Sec. 3-66b. Unclaimed intangible property. Conditions raising presumption of abandonment.

383 words·~2 min read·/ct/title-3/chapter-32-treasurer/3-66b

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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

(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.