TITLE 14

ESTATES OF DECEDENTS

CHAPTER 5

REVISED UNCLAIMED PROPERTY ACT

PART 2

PRESUMPTION OF ABANDONMENT

14-5-206.  WHEN STORED VALUE CARD PRESUMED ABANDONED. (1) Subject to the provisions of section 14-5-210, Idaho Code, the net card value of a stored value card, other than a payroll card that has not been duly converted to a federal deposit insurance corporation-insured, owner accessible account balance at a financial institution, is presumed abandoned five (5) years after the latest of:

(a)  December 31 of the year in which the card is issued or additional funds are deposited into it;

(b)  The most recent indication of interest in the card by the apparent owner; or

(c)  A verification or review of the balance by or on behalf of the apparent owner.

(2)  The amount presumed abandoned in a stored value card is the net card value at the time it is presumed abandoned.

History:

[14-5-206, added 2024, ch. 27, sec. 2, p. 190.]