State Codes and Statutes
Statutes > Missouri > T29 > C447 > 447_565Hearing on claims by treasurer--payment of claim, amount, no chargesauthorized--interest--treasurer discharged from liability--claimantaccountable to person with superior right.
447.565. 1. The treasurer shall consider any claim filed pursuant tosections 447.500 to 447.595 and may hold a hearing and receive evidenceconcerning it. If a hearing is held, the treasurer shall prepare a findingand a decision in writing on each claim filed, stating the substance of anyevidence heard by the treasurer and the reasons for the treasurer's decision.The decision shall be a public record.
2. If the claim is allowed, the treasurer shall make payment forthwith.The claim shall be paid without deduction for costs of notices or sale or forservice charges, and any such claim paid shall include interest, if the ownerwould have been entitled interest had the property not been presumed to beabandoned. Such interest shall equal the year-to-date annualized average rateof return on all funds invested by the state treasurer for each year ofaccrual and the previous year's annualized average rate of return for thecurrent fiscal year, but shall not accrue more than seven years after suchproperty has been determined to be abandoned and transferred to the custody ofthe state.
3. The treasurer*, after paying a claim, is discharged and released tothe same extent as if the treasurer dealt with a legal representative of theowner. The treasurer is not required to see to the application of the paymentor to inquire into the truth of any statement made in the claim except to theextent that confirmatory information is provided to the treasurer. Anyclaimant, attorney in fact, attorney, or anyone representing a claimant towhom payment is made is accountable therefor to any other person having asuperior right to the payment.
(L. 1984 H.B. 1088 § 19 subsecs. 1, 2, A.L. 1989 H.B. 506, A.L. 1993 H.B. 566, A.L. 1994 S.B. 757, A.L. 1998 H.B. 1510)*Word "treasure" appears in original rolls.
