(a) Duty of Administrator.- The Administrator shall endeavor to enter into an agreement with the federal government concerning abandoned property in federal custody.
(b) Contents of agreement.- The agreement shall provide:
(1) Unless federal law provides otherwise, that tangible abandoned property in federal custody that was initially acquired in this State shall be delivered to the administrator;
(2) That if the last known address of any owner of intangible abandoned property in federal custody is in this State:
(i) The situs of the abandoned property is in this State, and the abandoned property shall be delivered to the Administrator; and
(ii) That the address of any other owner of the abandoned property in federal custody is determined by federal law;
(3) For payment of the State's proportionate share of costs incurred by the federal government in:
(i) Investigating records of abandoned property;
(ii) Reporting information about abandoned property to the Administrator; and
(iii) Delivering the abandoned property to the Administrator;
(4) The manner and times of payment, including a provision that payments may be made at stated times over a period of years;
(5) That this State indemnifies the federal government against any claim made as a result of the delivery of abandoned property to this State under the agreement; and
(6) That the Attorney General of this State shall intervene in any action or proceeding brought against the federal government as a result of action taken in accordance with the agreement.
(a) Duty of Administrator.- The Administrator shall endeavor to enter into an agreement with the federal government concerning abandoned property in federal custody.
(b) Contents of agreement.- The agreement shall provide:
(1) Unless federal law provides otherwise, that tangible abandoned property in federal custody that was initially acquired in this State shall be delivered to the administrator;
(2) That if the last known address of any owner of intangible abandoned property in federal custody is in this State:
(i) The situs of the abandoned property is in this State, and the abandoned property shall be delivered to the Administrator; and
(ii) That the address of any other owner of the abandoned property in federal custody is determined by federal law;
(3) For payment of the State's proportionate share of costs incurred by the federal government in:
(i) Investigating records of abandoned property;
(ii) Reporting information about abandoned property to the Administrator; and
(iii) Delivering the abandoned property to the Administrator;
(4) The manner and times of payment, including a provision that payments may be made at stated times over a period of years;
(5) That this State indemnifies the federal government against any claim made as a result of the delivery of abandoned property to this State under the agreement; and
(6) That the Attorney General of this State shall intervene in any action or proceeding brought against the federal government as a result of action taken in accordance with the agreement.
(a) Duty of Administrator.- The Administrator shall endeavor to enter into an agreement with the federal government concerning abandoned property in federal custody.
(b) Contents of agreement.- The agreement shall provide:
(1) Unless federal law provides otherwise, that tangible abandoned property in federal custody that was initially acquired in this State shall be delivered to the administrator;
(2) That if the last known address of any owner of intangible abandoned property in federal custody is in this State:
(i) The situs of the abandoned property is in this State, and the abandoned property shall be delivered to the Administrator; and
(ii) That the address of any other owner of the abandoned property in federal custody is determined by federal law;
(3) For payment of the State's proportionate share of costs incurred by the federal government in:
(i) Investigating records of abandoned property;
(ii) Reporting information about abandoned property to the Administrator; and
(iii) Delivering the abandoned property to the Administrator;
(4) The manner and times of payment, including a provision that payments may be made at stated times over a period of years;
(5) That this State indemnifies the federal government against any claim made as a result of the delivery of abandoned property to this State under the agreement; and
(6) That the Attorney General of this State shall intervene in any action or proceeding brought against the federal government as a result of action taken in accordance with the agreement.
