§ 1417. Agreements with other states.

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§ 1417. Agreements with other states. 1. The state comptroller is

authorized to enter into reciprocal agreements with appropriate officers

or agencies of other states to effectuate the purposes of this chapter.

2. Reciprocal agreements entered into pursuant to this section may

include within their terms:

(a)agreement to receive and distribute abandoned property between

agreeing states, in accordance with existing law, and the manner of such

distribution;

(b)agreements for cooperation between agreeing states, including the

exchange of information and data and use of personnel, in performing

audits and other functions relating to securing compliance with this

chapter and the applicable statutes of the agreeing states by holders of

unclaimed property.

(a)For purposes of this section the term "states" shall mean those

states, the district of Columbia and the commonwealth of Puerto Rico,

which have enacted laws relating to the disposition of unclaimed

property and such laws require that the property be held thereby in

custody subject to claim by the person or persons entitled thereto at

any time.

(b)For purposes of this section the phrase "existing law" shall

include within its meaning decisions of the supreme court of the United

States.

4. No reciprocal agreement made pursuant to the provisions of this

section shall become effective until approved as to form by the attorney

general (of each agreeing state).