Effective 5/9/2017 67-4a-1001. Verified report of property. (1) If a person does not file a report required by Section 67-4a-401 or the administrator believes that a person may have filed an inaccurate, incomplete, or false report, the administrator may require the person to file a verified report in a form prescribed by the administrator. (2) […]
Effective 5/9/2017 67-4a-1002. Examination of records to determine compliance. The administrator, at reasonable times and on reasonable notice, may: (1) examine the records of a person, including examination of appropriate records in the possession of an agent of the person under examination, if the records are reasonably necessary to determine whether the person has complied […]
Effective 5/9/2017 67-4a-1003. Rules for conducting examination. (1) (a) The administrator may adopt rules governing procedures and standards for an examination under Section 67-4a-1002. (b) The rules may reference any standards concerning unclaimed property examinations promulgated by the National Association of Unclaimed Property Administrators. (2) An examination under Section 67-4a-1002 shall be performed under rules […]
Effective 5/9/2017 67-4a-1004. Records obtained in examination. Records obtained and records, including work papers, compiled by the administrator in the course of conducting an examination under Section 67-4a-1002: (1) are subject to the confidentiality and security provisions of Part 14, Confidentiality and Security of Information, and are not public records; (2) may be used by […]
Effective 5/9/2017 67-4a-1005. Evidence of unpaid debt or undischarged obligation. (1) A record of a putative holder showing an unpaid debt or undischarged obligation is prima facie evidence of the debt or obligation. (2) A putative holder may establish by a preponderance of the evidence that there is no unpaid debt or undischarged obligation for […]
Effective 5/9/2017 67-4a-1006. Failure of person examined to retain records. (1) If a person subject to examination under Section 67-4a-1002 does not retain the records required by Section 67-4a-404, the administrator may determine the value of property due using a reasonable method of estimation based on all information available to the administrator, including extrapolation and […]
Effective 5/9/2017 67-4a-1007. Report to person whose records were examined. At the conclusion of an examination under Section 67-4a-1002, unless waived in writing by the person being examined, the administrator shall provide to the person whose records were examined a report that specifies: (1) the work performed; (2) the property types reviewed; (3) the methodology […]
Effective 5/9/2017 67-4a-1008. Informal conference. (1) If a person subject to examination under Section 67-4a-1002 believes the person conducting the examination has made an unreasonable or unauthorized request or is not proceeding expeditiously to complete the examination, the person in a record may request an informal conference with the administrator. (2) (a) If a person […]
Effective 5/9/2017 67-4a-1009. Administrator’s contract with another to conduct examination. (1) The administrator may contract with a person to conduct an examination under this chapter. (2) If the administrator contracts with a person under Subsection (1): (a) the contract may provide for compensation of the person based on a fixed fee, hourly fee, or contingent […]
Effective 5/9/2017 67-4a-1010. Report by administrator to state official. (1) Not later than three months after the end of the fiscal year, the administrator shall compile and submit a report to the treasurer, president of the Senate, and speaker of the House. (2) The report shall contain the following information about property presumed abandoned for […]
Effective 5/9/2017 67-4a-1011. Determination of liability for unreported reportable property. If the administrator determines from an examination conducted under Section 67-4a-1002 that a putative holder failed or refused to pay or deliver to the administrator property that is reportable under this chapter, the administrator shall issue a determination of the putative holder’s liability to pay […]
