Current through the 2024 Fourth Special Session
Section 67-4a-903 - Claim for property by person claiming to be owner(1)(a) A person claiming to be the owner of property held under this chapter by the administrator may file a claim for the property on a form prescribed by the administrator.(b) The claimant shall verify the claim as to its completeness and accuracy.(2) If the owner claiming the unclaimed property is a creditor the following apply: (a)(i) the exclusive remedy for satisfying a creditor's judgement is payment of a claim under the act; and(ii) a writ of attachment, garnishment, or execution is prohibited on unclaimed property;(b) a creditor may only receive the value of the creditor's judgment or the amount held by the administrator, whichever is less; and(c) the administrator may waive the requirement in Subsection (1) and may pay or deliver property directly to a person if:(i) the person receiving the property or payment is shown to be the apparent owner included on a report filed under Section 67-4a-401;(ii) the administrator reasonably believes the person is entitled to receive the property or payment; and(iii) the property has a value of less than $500.Added by Chapter 371, 2017 General Session ,§ 54, eff. 5/9/2017.