Effective 5/9/2017 67-4a-701. Public sale of property. (1) Subject to Section 67-4a-702, not earlier than three years after receipt of property presumed abandoned, the administrator may sell the property. (2) Before selling property under Subsection (1), the administrator shall give notice to the public of: (a) the date of the sale; and (b) a reasonable […]
Effective 5/9/2017 67-4a-702. Disposal of securities. (1) The administrator may not sell or otherwise liquidate a security until three years after the administrator receives the security and gives the apparent owner notice under Section 67-4a-503 that the administrator holds the security. (2) The administrator may not sell a security listed on an established stock exchange […]
Effective 5/9/2017 67-4a-703. Recovery of securities or value by owner. (1) The administrator may not be held liable for any loss or gain in the value that the financial instrument would have obtained had the financial instrument been held instead of being sold. (2) Upon approval of a claim, the owner, heir, or agent may […]
Effective 5/9/2017 67-4a-704. Purchaser owns property after sale. (1) A purchaser of property at a sale conducted by the administrator under this chapter takes the property free of all claims of the owner, a previous holder, or a person claiming through the owner or holder. (2) The administrator shall execute documents necessary to complete the […]
Effective 5/9/2017 67-4a-705. Military medal or decoration. (1) The administrator may not sell a medal or decoration awarded for military service in the armed forces of the United States. (2) The administrator, with the consent of the respective organization under Subsection (2)(a), agency under Subsection (2)(b), or entity under Subsection (2)(c), may deliver a medal […]
