State Codes and Statutes
Statutes > Rhode-island > Title-33 > Chapter-33-21-1 > 33-21-1-19SECTION 33-21.1-19
§ 33-21.1-19 Payment or delivery ofabandoned property. – (a) Except as otherwise provided in subsection (b), a person who is required tofile a report under § 33-21.1-17, shall at the time of filing the reportas required by § 33-21.1-17 pay or deliver to the administrator allabandoned property required to be reported.
(b) If the owner establishes the right to receive theabandoned property to the satisfaction of the holder before the property hasbeen delivered or it appears that for some other reason the presumption ofabandonment is erroneous, the holder need not pay or deliver the property tothe administrator, and the property will no longer be presumed abandoned. Inthat case, the holder shall file with the administrator a verified writtenexplanation of the proof of claim or of the error in the presumption ofabandonment.
(c) The holder of an interest under § 33-21.1-10 shalldeliver a duplicate certificate or other evidence of ownership if the holderdoes not issue certificates of ownership to the administrator. Upon delivery ofa duplicate certificate to the administrator, the holder and any transferagent, registrar, or other person acting for or on behalf of a holder inexecuting or delivering the duplicate certificate is relieved of all liabilityof every kind in accordance with the provision of § 33-21.1-20 to everyperson, including any person acquiring the original certificate or theduplicate of the certificate issued to the administrator, for any losses ordamages resulting to any person by the issuance and delivery to theadministrator of the duplicate certificate.
