Section 1201 – Judicial action to enforce liability.

Effective 5/9/2017 67-4a-1201. Judicial action to enforce liability. (1) (a) If a determination under Section 67-4a-1011 becomes final and is not subject to administrative or judicial review, the administrator may commence an action in the district court or in a district court of another state to enforce the determination and secure payment or delivery of […]

Section 1202 – Interstate and international agreement — Cooperation.

Effective 5/9/2017 67-4a-1202. Interstate and international agreement — Cooperation. (1) Subject to Subsection (2), the administrator may: (a) exchange information with another state or foreign country relating to property presumed abandoned or relating to the possible existence of property presumed abandoned; and (b) authorize in a record another state or foreign country or a person […]

Section 1203 – Action involving another state or foreign country.

Effective 5/9/2017 67-4a-1203. Action involving another state or foreign country. (1) The administrator may join another state or foreign country to examine and seek enforcement of this chapter against a putative holder. (2) On request of another state or foreign country, the attorney general may commence an action on behalf of the other state or […]

Section 1204 – Interest and penalty for failure to act in timely manner.

Effective 5/9/2017 67-4a-1204. Interest and penalty for failure to act in timely manner. (1) A holder that fails to report, pay, or deliver property within the time prescribed by this chapter shall pay to the administrator interest at an annual rate calculated based on the federal short-term rate determined by the secretary of the treasury […]

Section 1205 – Other civil penalties.

Effective 5/9/2017 67-4a-1205. Other civil penalties. (1) If a holder enters into a contract or other arrangement for the purpose of evading an obligation under this chapter or otherwise willfully fails to perform a duty imposed on the holder under this chapter, the administrator may require the holder to pay the administrator, in addition to […]

Section 1206 – Waiver of interest and penalty.

Effective 5/9/2017 67-4a-1206. Waiver of interest and penalty. The administrator: (1) may waive, in whole or in part, interest under Subsection 67-4a-1204(1) and penalties under Subsection 67-4a-1204(2) or Section 67-4a-1205; and (2) may waive a penalty under Subsection 67-4a-1204(2) if the administrator determines that the holder acted in good faith and without negligence. Enacted by […]