Section 903 – Claim for property by person claiming to be owner.

• (1)
  • (a) A person claiming to be the owner of property held under this chapter by the administrator may file a claim for the property on a form prescribed by the administrator.
  • (b) The claimant shall verify the claim as to its completeness and accuracy.

• (2) If the owner claiming the unclaimed property is a creditor the following apply:
  • (a)
    • (i) the exclusive remedy for satisfying a creditor’s judgement is payment of a claim under the act; and
    • (ii) a writ of attachment, garnishment, or execution is prohibited on unclaimed property;
  • (b) a creditor may only receive the value of the creditor’s judgment or the amount held by the administrator, whichever is less; and
  • (c) the administrator may waive the requirement in Subsection (1) and may pay or deliver property directly to a person if:
    • (i) the person receiving the property or payment is shown to be the apparent owner included on a report filed under Section 67-4a-401;
    • (ii) the administrator reasonably believes the person is entitled to receive the property or payment; and
    • (iii) the property has a value of less than $500.

Enacted by Chapter 371, 2017 General Session