44-301

44-301. Definitions

In this chapter, unless the context otherwise requires:

1. "Apparent owner" means a person whose name appears on the records of a holder as
the person entitled to property held, issued or owing by the holder.

2. "Business association" means any corporation, joint stock company, investment
company, partnership, limited partnership, registered limited liability partnership,
unincorporated association, joint venture, limited liability company, business trust,
trust company, land bank, safe deposit company, safekeeping depository, financial
organization, insurance company, mutual fund, utility or other business entity, whether
for profit or not for profit, that consists of one or more persons.

3. "De minimis property" means any account balances of business associations of
fifty dollars or less payable to another business association.

4. "Department" means the department of revenue.

5. "Director" means the director of the department of revenue.

6. "Domicile" means the state of incorporation of a corporation and the state of
the principal place of business of a holder other than a corporation.

7. "Financial organization" means a savings and loan association, building and loan
association, savings bank, industrial bank, bank, banking organization or credit union.

8. "Holder" means a person who is obligated to hold for the account of or deliver
or pay to the owner property that is subject to this chapter.

9. "Insurance company" means an association, corporation or fraternal or mutual
benefit society or organization, whether for profit or not for profit, that is engaged in
the business of providing life endowments, annuities or insurance, including accident,
burial, casualty, credit life, contract performance, dental, disability, fidelity, fire,
health, hospitalization, illness, life, malpractice, marine, mortgage, surety, wage
protection and workers' compensation insurance.

10. "Mineral" means gas, oil, coal, sand, gravel, road material, building stone,
chemical raw material, gemstone, fissionable and nonfissionable ores, colloid and other
clay, steam and other geothermal resource or any other substance defined as a mineral in
sections 27-231 and 27-901.

11. "Mineral proceeds" means the amounts payable for the extraction, production or
sale of minerals or, if those amounts are abandoned, all payments that become payable
after the abandonment. Mineral proceeds include amounts payable:

(a) For the acquisitions and retention of a mineral lease, including bonuses,
royalties, compensatory royalties, shut-in royalties, minimum royalties and delay
rentals.

(b) For the extraction, production or sale of minerals, including net revenue
interest, royalties, overriding royalties, extraction payments and production payments.

(c) Under an agreement or option, including a joint operating agreement, unit
agreement, pooling agreement and farm out agreement.

12. "Money order" includes an express money order and a personal money order on
which the remitter is the purchaser. Money order does not include a bank money order or
any other instrument that is sold by a financial organization if the seller has obtained
the name and address of the payee.

13. "Owner" means a person who has a legal or equitable interest in property that is
subject to this chapter or the person's legal representative. Owner includes a depositor
in the case of a deposit, a beneficiary in the case of a trust other than a deposit in
trust and a creditor, claimant or payee in the case of other property.

14. "Person" means an individual, business association, financial organization,
estate, trust, government, governmental subdivision, agency or instrumentality or any
other legal or commercial entity.

15. "Property" means tangible property pursuant to section 44-303 or a fixed and
certain interest in intangible property that is held, issued or owed in the course of a
holder's business or by a government, governmental subdivision, agency or instrumentality
and all income or increments from that property. Property does not include de minimis
property, property of a person who is maintaining a current business relationship with
the holder and property that is referred to or evidenced by gift certificates, electronic
gift cards, nonrefundable tickets, certificates evidencing property denominated in value
other than a currency, including prepaid phone cards, frequent flyer miles, stored value
cards and merchandise points. Property includes property that is referred to as or
evidenced by any of the following:

(a) Money or any check, draft, deposit, interest or dividend.

(b) Any credit balance, customer's overpayment, security deposit, refund, credit
memorandum, unpaid wage, unused ticket, mineral proceeds or unidentified remittance.

(d) Any bond, debenture, note or other evidence of indebtedness.

(e) Money deposited to redeem stocks, bonds, coupons or other securities or to make
distributions.

(f) An amount due and payable under the terms of an annuity or insurance policy,
including policies that provide life, property, casualty, workers' compensation, health
or disability insurance.

(g) An amount distributable from a trust or custodial fund that is established
under a plan to provide health, welfare, pension, vacation, severance, retirement, death,
stock purchase, profit sharing, employee savings or supplemental unemployment insurance
or similar benefits.

16. "Record" means information that is inscribed on a tangible medium or that is
stored in any electronic or other medium and that is retrievable in a perceivable form.

17. "State" means a state of the United States, the district of Columbia, the
commonwealth of Puerto Rico or any territory or insular possession that is subject to the
jurisdiction of the United States.

18. "Utility" has the same meaning prescribed in section 40-491.