§ 33-21.1-25 - Claim of another state to recover property; procedure.
SECTION 33-21.1-25
§ 33-21.1-25 Claim of another state torecover property; procedure. – (a) At any time after property has been paid or delivered to the administratorunder this chapter, another state may recover the property if:
(1) The property was subjected to custody by this statebecause the records of the holder did not reflect the last known address of theapparent owner when the property was presumed abandoned under this chapter, andthe other state establishes that the last known address of the apparent owneror other person entitled to the property was in that state and under the lawsof that state the property escheated to or was subject to a claim ofabandonment by that state;
(2) The last known address of the apparent owner or otherperson entitled to the property, as reflected by the records of the holder, isin the other state and under the laws of that state the property has escheatedto or become subject to a claim of abandonment by that state;
(3) The records of the holder were erroneous in that they didnot accurately reflect the actual owner of the property and the last knownaddress of the actual owner is in the other state and under the laws of thatstate the property escheated to or was subject to a claim of abandonment bythat state;
(4) The property was subjected to custody by this state under§ 33-21.1-3(6) and under the laws of the state of domicile of the holderthe property has escheated to or become subject to a claim of abandonment bythat state; or
(5) The property is the sum payable on a travelers check,money order, or other similar instrument that was subjected to custody by thisstate under § 33-21.1-4, and the instrument was purchased in the otherstate, and under the laws of that state the property escheated to or becamesubject to a claim of abandonment by that state.
(b) The claim of another state to recover escheated orabandoned property must be presented in a form prescribed by the administrator,who shall decide the claim within ninety (90) days after it is presented. Theadministrator shall allow the claim if he or she determines that the otherstate is entitled to the abandoned property under subsection (a).
(c) The administrator shall require a state, beforerecovering property under this section, to agree to indemnify this state andits officers and employees against any liability on a claim for the property.