Current through the 2024 Fourth Special Session
Section 67-4a-905 - Allowance of claim for property(1)(a) The administrator shall pay or deliver to the owner the property or pay to the owner the net proceeds of a sale of the property together with income or gain to which the owner is entitled under Section 67-4a-607.(b) On request of the owner, the administrator may sell or liquidate a security and pay the net proceeds to the owner.(2) Property held under this chapter by the administrator is subject to a claim for the payment of an enforceable debt the owner owes in this state for: (a) child support arrearages, including child support collection costs and child support arrearages that are combined with maintenance;(b) a civil or criminal fine or penalty, court costs, a surcharge, or restitution imposed by a final order of an administrative agency or a final court judgment; or(c) state taxes, penalties, and interest that have been determined to be delinquent or as to which notice has been recorded with the State Tax Commission.(3)(a) Before delivery or payment to an owner under Subsection (1) of property or payment to the owner of net proceeds of a sale of the property, the administrator first shall apply the property or net proceeds to a debt under Subsection (2) the administrator determines is owed by the owner.(b) The administrator shall pay the amount to the appropriate state agency and notify the owner of the payment.(4)(a) The administrator may make periodic inquiries of state agencies in the absence of a claim filed under Section 67-4a-903 to determine whether an apparent owner included in the unclaimed property records of this state has enforceable debts described in Subsection (2).(b) The administrator first shall apply the property or net proceeds of a sale of property held by the administrator to a debt under Subsection (2) of an apparent owner that appears in the records of the administrator and deliver the amount to the appropriate state agency.(c) The administrator shall notify the apparent owner of the payment.Added by Chapter 371, 2017 General Session ,§ 56, eff. 5/9/2017.