58-3934. Definitions. As used in this act: (a) “Administrator” means the state treasurer. (b) “Apparent owner” means the person whose name appears on the records of the holder as the person entitled to property held, issued or owing by the holder. (c) “Business association” means a corporation, joint-stock company, investment company, partnership, unincorporated association, joint […]
58-3935. Property presumed abandoned; when; general rule. (a) Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property: (1) Traveler’s check, 15 years after its issuance; (2) money order, seven years after issuance; (3) except as provided in K.S.A. 58-3943, and amendments thereto, […]
58-3936. General rules for taking custody of intangible unclaimed property. Except as otherwise provided in this act or by other statute of this state, property that is presumed abandoned, whether located in this or another state, is subject to the custody of this state if: (a) The last known address of the apparent owner, as […]
58-3938. Burden of proof as to property evidenced by record of check or draft. A record of the issuance of a check, draft or similar instrument is prima facie evidence of an obligation. In claiming property from a holder who is also the issuer, the administrator’s burden of proof as to the existence and amount […]
58-3943. Stock and other intangible interests in business associations. This act does not apply to any stock or other intangible ownership interest enrolled in a plan that provides for the automatic reinvestment of dividends, distributions or other sums payable as a result of the interest unless: (a) The records available to the administrator of the […]
58-3949. Contents of safe deposit box or other safekeeping repository. Tangible property held in a safe deposit box or other safekeeping depository in this state in the ordinary course of the holder’s business and proceeds resulting from the sale of the property permitted by other law are presumed abandoned if the property remains unclaimed by […]
58-3950. Report of abandoned property. (a) Except as provided in subsection (i), a holder of property presumed abandoned shall make a report to the administrator concerning the property. (b) The report must be verified and must contain: (1) A description of the property; (2) except with respect to a traveler’s check or money order, the […]
58-3951. Advertising of unclaimed property; information required. (a) Within the calendar year next following the year in which unclaimed property has been paid or delivered to the administrator, the administrator shall advertise the unclaimed property in such form as in the discretion of the administrator is likely to attract the attention of the apparent owner […]
58-3952. Payment or delivery of abandoned property. (a) At the time of the filing of the report required by subsection (d) of K.S.A. 58-3950 and amendments thereto and with that report, the holder of property presumed abandoned shall pay, deliver or cause to be paid or delivered to the administrator the property described in the […]
58-3953. Custody of state; holder relieved from liability; reimbursement of holder paying claim; reclaiming for owner; defense of holder; payment of safe deposit box or repository charges. (a) In this section, payment or delivery is made in “good faith” if: (1) Payment or delivery was made in a reasonable attempt to comply with this act; […]
58-3954. Crediting of dividends, interest, or increments to owner’s account. (a) Whenever property other than money is paid or delivered to the administrator under this act, the owner is entitled to receive from the administrator any dividends, interest or other increments realized or accruing on the property at or before liquidation or conversion thereof into […]
58-3955. Public sale of abandoned property; exceptions. (a) Except as provided in subsections (b) and (c), the administrator, within three years after the receipt of abandoned property, shall sell it to the highest bidder at public sale in whatever city in the state affords in the judgment of the administrator the most favorable market for […]
58-3956. Deposit of funds. (a) Except as otherwise provided by this section, the administrator shall promptly deposit in the state general fund all funds received under this act, including the proceeds, from the sale of abandoned property under K.S.A. 58-3955 and amendments thereto, and the proceeds from the redemption of United States savings bonds under […]
58-3957. Filing of claim with administrator. (a) (1) A person, excluding another state, claiming an interest in any property paid or delivered to the administrator may file with the administrator a claim on a form prescribed by the administrator and verified by the claimant. (2) The department of health and environment may claim an interest […]
58-3958. Claim of another state to recover property; procedure. (a) At any time after property has been paid or delivered to the administrator under this act another state may recover the property if: (1) The property was subjected to custody by this state because the records of the holder did not reflect the last known […]
58-3959. Action to establish claim. A person aggrieved by a decision of the administrator or whose claims have not been acted upon within 90 days may bring an action to establish a claim in accordance with the Kansas judicial review act. History: L. 1994, ch. 8, § 26; L. 2010, ch. 17, § 107; July […]
58-3960. Election to take property or delivery. (a) The administrator may decline to receive any property reported under this act which is considered to have a value less than the expense of giving notice and of sale. If the administrator elects not to receive custody of the property, the holder shall be notified within 120 […]
58-3961. Destruction or disposition of property having insubstantial commercial value; immunity from liability. If the administrator determines after investigation that any property delivered under this act has insubstantial commercial value, the administrator may destroy or otherwise dispose of the property at any time. No action or proceeding may be maintained against the state or any […]
58-3962. Periods of limitation. (a) The expiration, before or after the effective date of this act, or any period of time specified by contract, statute or court order during which a claim for money or property can be made or during which an action or proceeding may be commenced or enforced to obtain payment of […]
58-3963. Requests for reports and examination of records. (a) The administrator may require any person who has not filed a report to file a verified report stating whether or not the person is holding any unclaimed property reportable or deliverable under this act. (b) The administrator, at reasonable times and upon reasonable notice, may examine […]
