Sec. 3-66b. Unclaimed intangible property. Conditions raising presumption of abandonment.
Sec. 3-66b. Unclaimed intangible property. Conditions raising presumption
of abandonment. Intangible property is subject to the custody of the state as unclaimed
property if the conditions raising a presumption of abandonment under this part are
satisfied and:
(1) The last-known address of the apparent owner, as shown on the records of the
holder, is in this state;
(2) The records of the holder do not include the name of the person entitled to the
property and it is established that the last-known address of such person is in this state;
(3) The records of the holder do not reflect the last-known address of the apparent
owner, and it is established that (A) the last-known address of the person entitled to the
property is in this state, or (B) the holder is a domiciliary or a governmental subdivision
or agency of this state and has not previously paid or delivered the property to the state
of the last-known address of the apparent owner or other person entitled to the property;
(4) The last-known address of the apparent owner, as shown on the records of the
holder, is in a state that does not provide by law for the escheat or custodial taking of
the property or the escheat or unclaimed property law of which is not applicable to the
property and the holder is a domiciliary or a governmental subdivision or agency of
this state;
(5) The last-known address of the apparent owner, as shown on the records of the
holder, is in a foreign nation and the holder is a domiciliary or a governmental subdivision
or agency of this state; or
(6) The transaction out of which the property arose occurred in this state and (A)
(i) the last-known address of the apparent owner or other person entitled to the property
is unknown, or (ii) the last-known address of the apparent owner or other person entitled
to the property is in a state that does not provide by law for the escheat or custodial
taking of the property or the escheat or unclaimed property law of which is not applicable
to the property, and (B) the holder is a domiciliary of a state that does not provide by
law for the escheat or custodial taking of the property or the escheat or unclaimed property law of which is not applicable to the property.
(P.A. 84-456, S. 1, 12; P.A. 85-613, S. 12, 154; June 30 Sp. Sess. P.A. 03-1, S. 78.)
History: P.A. 85-613 made technical change, substituting reference to Sec. 3-59a for reference to Sec. 3-59; June 30
Sp. Sess. P.A. 03-1 replaced statutory references with reference to "this part", effective August 16, 2003.