66-29-112 - Miscellaneous property held for another person. - Tennessee Statutes

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66-29-112. Miscellaneous property held for another person.

All property, not otherwise covered by this part, including any income or increment thereon and deducting any lawful charges, that is held or owing in the ordinary course of the holder's business and has remained unclaimed by the owner for more than five (5) years after it became payable or distributable is presumed abandoned. A layaway account of any retail business association shall not be considered as miscellaneous property held for another person and such accounts shall not be regulated by this part. Property described above, without regard to any activity or inactivity within the past five (5) years, shall also be presumed abandoned if the owner thereof is known to the holder to have died and left no one to take the property by will and no one to take the property by intestate succession.

[Acts 1978, ch. 561, § 11; 1980, ch. 813, § 1; T.C.A., §§ 64-2911, 66-29-111; Acts 1984, ch. 544, § 8; 1986, ch. 539, § 18; 1993, ch. 195, § 9.]

State Codes and Statutes

Statutes > Tennessee > Title-66 > Chapter-29 > Part-1 > 66-29-112

66-29-112. Miscellaneous property held for another person.

All property, not otherwise covered by this part, including any income or increment thereon and deducting any lawful charges, that is held or owing in the ordinary course of the holder's business and has remained unclaimed by the owner for more than five (5) years after it became payable or distributable is presumed abandoned. A layaway account of any retail business association shall not be considered as miscellaneous property held for another person and such accounts shall not be regulated by this part. Property described above, without regard to any activity or inactivity within the past five (5) years, shall also be presumed abandoned if the owner thereof is known to the holder to have died and left no one to take the property by will and no one to take the property by intestate succession.

[Acts 1978, ch. 561, § 11; 1980, ch. 813, § 1; T.C.A., §§ 64-2911, 66-29-111; Acts 1984, ch. 544, § 8; 1986, ch. 539, § 18; 1993, ch. 195, § 9.]

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State Codes and Statutes

Statutes > Tennessee > Title-66 > Chapter-29 > Part-1 > 66-29-112

66-29-112. Miscellaneous property held for another person.

All property, not otherwise covered by this part, including any income or increment thereon and deducting any lawful charges, that is held or owing in the ordinary course of the holder's business and has remained unclaimed by the owner for more than five (5) years after it became payable or distributable is presumed abandoned. A layaway account of any retail business association shall not be considered as miscellaneous property held for another person and such accounts shall not be regulated by this part. Property described above, without regard to any activity or inactivity within the past five (5) years, shall also be presumed abandoned if the owner thereof is known to the holder to have died and left no one to take the property by will and no one to take the property by intestate succession.

[Acts 1978, ch. 561, § 11; 1980, ch. 813, § 1; T.C.A., §§ 64-2911, 66-29-111; Acts 1984, ch. 544, § 8; 1986, ch. 539, § 18; 1993, ch. 195, § 9.]