66-29-116 - Relief from liability by payment or delivery. - Tennessee Statutes

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Statutes > Tennessee > Title-66 > Chapter-29 > Part-1 > 66-29-116

66-29-116. Relief from liability by payment or delivery.

Upon the payment or delivery of abandoned property to the treasurer, the state shall assume custody of the property and shall be responsible for its safekeeping. Any person who pays or delivers abandoned property to the treasurer under this chapter is relieved of all liability to the extent of the value of the property so paid or delivered for any claim which then exists or which thereafter may arise or be made in respect to the property. Any holder who has paid moneys to the treasurer pursuant to this part may make payment to any person appearing to such holder to be entitled thereto, and upon proof of such payment and proof that the payee was entitled thereto, the treasurer shall forthwith reimburse the holder for the payment.

[Acts 1978, ch. 561, § 16; T.C.A., § 64-2916.]

State Codes and Statutes

Statutes > Tennessee > Title-66 > Chapter-29 > Part-1 > 66-29-116

66-29-116. Relief from liability by payment or delivery.

Upon the payment or delivery of abandoned property to the treasurer, the state shall assume custody of the property and shall be responsible for its safekeeping. Any person who pays or delivers abandoned property to the treasurer under this chapter is relieved of all liability to the extent of the value of the property so paid or delivered for any claim which then exists or which thereafter may arise or be made in respect to the property. Any holder who has paid moneys to the treasurer pursuant to this part may make payment to any person appearing to such holder to be entitled thereto, and upon proof of such payment and proof that the payee was entitled thereto, the treasurer shall forthwith reimburse the holder for the payment.

[Acts 1978, ch. 561, § 16; T.C.A., § 64-2916.]

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State Codes and Statutes

Statutes > Tennessee > Title-66 > Chapter-29 > Part-1 > 66-29-116

66-29-116. Relief from liability by payment or delivery.

Upon the payment or delivery of abandoned property to the treasurer, the state shall assume custody of the property and shall be responsible for its safekeeping. Any person who pays or delivers abandoned property to the treasurer under this chapter is relieved of all liability to the extent of the value of the property so paid or delivered for any claim which then exists or which thereafter may arise or be made in respect to the property. Any holder who has paid moneys to the treasurer pursuant to this part may make payment to any person appearing to such holder to be entitled thereto, and upon proof of such payment and proof that the payee was entitled thereto, the treasurer shall forthwith reimburse the holder for the payment.

[Acts 1978, ch. 561, § 16; T.C.A., § 64-2916.]