TITLE 14

ESTATES OF DECEDENTS

CHAPTER 5

REVISED UNCLAIMED PROPERTY ACT

PART 4

REPORT BY HOLDER

14-5-401.  REPORT REQUIRED BY HOLDER. (1) A holder of property presumed abandoned and subject to the custody of the administrator shall report such property in a record to the administrator. The administrator may not require a holder to file a paper report and may prescribe the format of the report by rule.

(2)  A holder may contract with a third party to make the report required under subsection (1) of this section.

(3)  Whether or not a holder contracts with a third party under subsection (2) of this section, the holder is responsible:

(a)  To the administrator for the complete, accurate, and timely reporting of property presumed abandoned; and

(b)  For paying or delivering to the administrator property described in the report.

(4)  The administrator may require a report confirming the holder holds no property presumed abandoned.

History:

[14-5-401, added 2024, ch. 27, sec. 2, p. 195.]