Section 15A: Delivery or payment of abandoned property as release and discharge
143 words·~1 min read·
/ma/part-ii/title-ii/chapter-200a/15a·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 15A. The payment or delivery of any property except property other than cash, whether or not payable or deliverable under this chapter, to the treasurer by any holder shall terminate any legal relationship between the holder and the owner and shall release and discharge such holder from any and all liability to the owner, his heirs, personal representatives, successors and assigns and any state or governmental agency, whether federal or foreign, by reason of such delivery or payment, regardless of whether such property, and such delivery and payment may be pleaded as a bar to recovery, and shall be a conclusive defense in any suit or action brought by such owner, his heirs, personal representatives, successors and assigns, or any state or governmental agency whether federal or foreign, or any other claimant against the holder by reason of such delivery or payment.