§ 33-21.1-20 Custody by state –Defense of holder – Payment of safe deposit box or repository charges.– (a) Upon the payment or delivery of property to the administrator, the stateassumes custody and responsibility for the safekeeping of the property. Aperson who pays or delivers property to the administrator in good faith isrelieved of all liability to the extent of the value of the property paid ordelivered for any claim then existing or which thereafter may arise or be madein respect to the property.
(b) A holder who has paid money to the administrator pursuantto this chapter may make payment to any person appearing to the holder to beentitled to payment and, upon filing proof of payment and proof that the payeewas entitled to payment, the administrator shall promptly reimburse the holderfor the payment without imposing any fee or other charge. If reimbursement issought for a payment made on a negotiable instrument, including a travelerscheck or money order, the holder must be reimbursed under this subsection uponfiling proof that the instrument was duly presented and that payment was madeto a person who appeared to the holder to be entitled to payment. The holdermust be reimbursed for payment made under this subsection even if the paymentwas made to a person whose claim was barred under § 33-21.1-29(a).
(c) A holder who has delivered property, including acertificate of any interest in a business association, other than money to theadministrator pursuant to this chapter may reclaim the property if still in thepossession of the administrator, without paying any fee or other charge, uponfiling proof that the owner has claimed the property from the holder.
(d) The administrator may accept the holder's affidavit assufficient proof of the facts that entitle the holder to recover money andproperty under this section.
(e) If the holder pays or delivers property to theadministrator in good faith and later another person claims the property fromthe holder or another state claims the money or property under its lawsrelating to escheat, abandoned, or unclaimed property, the administrator, uponwritten notice of the claim, shall defend the holder against the claim andindemnify the holder against any liability on the claim.
(f) For the purposes of this section, "good faith" means that:
(1) Payment or delivery was made in a reasonable attempt tocomply with this chapter;
(2) The person delivering the property was not a fiduciarythen in breach of trust in respect to the property and had a reasonable basisfor believing, based on the facts then known to him or her, that the propertywas abandoned for the purposes of this chapter; and
(3) There is no showing that the records pursuant to whichthe delivery was made did not meet reasonable commercial standards of practicein the industry.
(g) Property removed from a safe deposit box or othersafekeeping repository is received by the administrator subject to the holder'sright under this subsection to be reimbursed for the actual cost of the openingand to any valid lien or contract providing for the holder to be reimbursed forunpaid rent or storage charges. The administrator shall reimburse or pay theholder out of the proceeds remaining after deducting the administrator'sselling cost.
§ 33-21.1-20 Custody by state –Defense of holder – Payment of safe deposit box or repository charges.– (a) Upon the payment or delivery of property to the administrator, the stateassumes custody and responsibility for the safekeeping of the property. Aperson who pays or delivers property to the administrator in good faith isrelieved of all liability to the extent of the value of the property paid ordelivered for any claim then existing or which thereafter may arise or be madein respect to the property.
(b) A holder who has paid money to the administrator pursuantto this chapter may make payment to any person appearing to the holder to beentitled to payment and, upon filing proof of payment and proof that the payeewas entitled to payment, the administrator shall promptly reimburse the holderfor the payment without imposing any fee or other charge. If reimbursement issought for a payment made on a negotiable instrument, including a travelerscheck or money order, the holder must be reimbursed under this subsection uponfiling proof that the instrument was duly presented and that payment was madeto a person who appeared to the holder to be entitled to payment. The holdermust be reimbursed for payment made under this subsection even if the paymentwas made to a person whose claim was barred under § 33-21.1-29(a).
(c) A holder who has delivered property, including acertificate of any interest in a business association, other than money to theadministrator pursuant to this chapter may reclaim the property if still in thepossession of the administrator, without paying any fee or other charge, uponfiling proof that the owner has claimed the property from the holder.
(d) The administrator may accept the holder's affidavit assufficient proof of the facts that entitle the holder to recover money andproperty under this section.
(e) If the holder pays or delivers property to theadministrator in good faith and later another person claims the property fromthe holder or another state claims the money or property under its lawsrelating to escheat, abandoned, or unclaimed property, the administrator, uponwritten notice of the claim, shall defend the holder against the claim andindemnify the holder against any liability on the claim.
(f) For the purposes of this section, "good faith" means that:
(1) Payment or delivery was made in a reasonable attempt tocomply with this chapter;
(2) The person delivering the property was not a fiduciarythen in breach of trust in respect to the property and had a reasonable basisfor believing, based on the facts then known to him or her, that the propertywas abandoned for the purposes of this chapter; and
(3) There is no showing that the records pursuant to whichthe delivery was made did not meet reasonable commercial standards of practicein the industry.
(g) Property removed from a safe deposit box or othersafekeeping repository is received by the administrator subject to the holder'sright under this subsection to be reimbursed for the actual cost of the openingand to any valid lien or contract providing for the holder to be reimbursed forunpaid rent or storage charges. The administrator shall reimburse or pay theholder out of the proceeds remaining after deducting the administrator'sselling cost.
§ 33-21.1-20 Custody by state –Defense of holder – Payment of safe deposit box or repository charges.– (a) Upon the payment or delivery of property to the administrator, the stateassumes custody and responsibility for the safekeeping of the property. Aperson who pays or delivers property to the administrator in good faith isrelieved of all liability to the extent of the value of the property paid ordelivered for any claim then existing or which thereafter may arise or be madein respect to the property.
(b) A holder who has paid money to the administrator pursuantto this chapter may make payment to any person appearing to the holder to beentitled to payment and, upon filing proof of payment and proof that the payeewas entitled to payment, the administrator shall promptly reimburse the holderfor the payment without imposing any fee or other charge. If reimbursement issought for a payment made on a negotiable instrument, including a travelerscheck or money order, the holder must be reimbursed under this subsection uponfiling proof that the instrument was duly presented and that payment was madeto a person who appeared to the holder to be entitled to payment. The holdermust be reimbursed for payment made under this subsection even if the paymentwas made to a person whose claim was barred under § 33-21.1-29(a).
(c) A holder who has delivered property, including acertificate of any interest in a business association, other than money to theadministrator pursuant to this chapter may reclaim the property if still in thepossession of the administrator, without paying any fee or other charge, uponfiling proof that the owner has claimed the property from the holder.
(d) The administrator may accept the holder's affidavit assufficient proof of the facts that entitle the holder to recover money andproperty under this section.
(e) If the holder pays or delivers property to theadministrator in good faith and later another person claims the property fromthe holder or another state claims the money or property under its lawsrelating to escheat, abandoned, or unclaimed property, the administrator, uponwritten notice of the claim, shall defend the holder against the claim andindemnify the holder against any liability on the claim.
(f) For the purposes of this section, "good faith" means that:
(1) Payment or delivery was made in a reasonable attempt tocomply with this chapter;
(2) The person delivering the property was not a fiduciarythen in breach of trust in respect to the property and had a reasonable basisfor believing, based on the facts then known to him or her, that the propertywas abandoned for the purposes of this chapter; and
(3) There is no showing that the records pursuant to whichthe delivery was made did not meet reasonable commercial standards of practicein the industry.
(g) Property removed from a safe deposit box or othersafekeeping repository is received by the administrator subject to the holder'sright under this subsection to be reimbursed for the actual cost of the openingand to any valid lien or contract providing for the holder to be reimbursed forunpaid rent or storage charges. The administrator shall reimburse or pay theholder out of the proceeds remaining after deducting the administrator'sselling cost.
