Section 43-41B-35 – Interest on untimely payments.
43-41B-35. Interest on untimely payments. A person who fails to pay or deliver property within the time prescribed by this chapter shall pay to the administrator interest at the Category A rate on the property or value thereof from the date the property should have been paid or delivered. Source: SL 1992, ch 312, §34.
Section 43-41B-36 – Agreements to locate reported property.
43-41B-36. Agreements to locate reported property. All agreements to pay compensation to recover or assist in the recovery of property reported under §43-41B-18, made within twelve months prior to the reporting and remitting of abandoned property accounts and within twenty-four months after the date payment or delivery is made under §43-41B-20, are unenforceable. No agreement […]
Section 43-41B-37 – Effect of new provisions–Clarification of application.
43-41B-37. Effect of new provisions–Clarification of application. (a)This chapter does not relieve a holder of a duty that arose before July 1, 1993, to report, pay, or deliver property. A holder who did not comply with the law in effect before July 1, 1993, is subject to the applicable enforcement and penalty provisions that then […]
Section 43-41B-38 – Rules.
43-41B-38. Rules. The administrator may promulgate rules, pursuant to chapter 1-26, to carry out the provisions of this chapter. Source: SL 1992, ch 312, §37.
Section 43-41B-24 – Deposit of funds.
43-41B-24. Deposit of funds. (a) Except as otherwise provided by this section, the administrator shall promptly deposit in the general fund of this state all funds received under this chapter, including the proceeds from the sale of abandoned property under §43-41B-23. The administrator shall retain in a separate trust fund an amount not more than […]
Section 43-41B-40 – Open-loop prepaid cards exempt.
43-41B-40. Open-loop prepaid cards exempt. The provisions of this chapter do not apply to open-loop prepaid cards for which the underlying funds do not expire and the records of the depository institution do not disclose the identity of the actual owner. For the purposes of this section, an open-loop prepaid card is an electronic payment […]
Section 43-41B-24.1 – Continuous appropriation of fund–Report–Approval of certain expenditures.
43-41B-24.1. Continuous appropriation of fund–Report–Approval of certain expenditures . Money in the unclaimed property trust fund for payment of costs and expenses authorized under §43-41B-24 is continuously appropriated for those purposes. Any expenditures shall be paid upon warrants drawn by the state auditor pursuant to vouchers authorized by the state treasurer. All funds paid out […]
Section 43-41B-41 – Rewards cards exempt.
43-41B-41. Rewards cards exempt. Notwithstanding §43-41B-40, the provisions of this chapter do not apply to any rewards card. For the purposes of §§43-41B-40 to 43-41B-42, inclusive, a rewards card is any awards, rewards, rebate, loyalty, incentive, or promotional card for which no money was paid by the cardholder. Source: SL 2010, ch 215, §2.
Section 43-41B-25 – Filing claim with administrator–Handling of claims by administrator.
43-41B-25. Filing claim with administrator–Handling of claims by administrator. (a) A person, excluding another state, claiming an interest in any property paid or delivered to the administrator may file a claim on a form prescribed by the administrator and verified by the claimant. (b) The administrator shall consider each claim within one hundred eighty days […]
Section 43-41B-42 – Unredeemed gift certificates, closed-loop cards, open-loop cards, and rewards cards not subject to state claim.
43-41B-42. Unredeemed gift certificates, closed-loop cards, open-loop cards, and rewards cards not subject to state claim. Any unredeemed gift certificate or closed-loop card that meets the requirements of §43-41B-43 or any open-loop prepaid card or rewards card is subject only to any rights of a purchaser or owner of the gift certificate or card and […]