67-4a-205. When contents of safe-deposit box presumed abandoned.
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/ut/title-67/chapter-4a/67-4a-205A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/9/2017
67-4a-205. When contents of safe-deposit box presumed abandoned.
Tangible property held in a safe-deposit box and proceeds from a sale of the property by the holder permitted by law of this state other than this chapter are presumed abandoned if the property remains unclaimed by the apparent owner five years after the earlier of the:
(1)expiration of the lease or rental period for the box; or
(2)earliest date when the lessor of the box is authorized by law of this state other than this chapter to enter the box and remove or dispose of the contents without consent or authorization of the lessee.
Repealed and Re-enacted by Chapter 371 , 2017 General Session