On payment or delivery of property to the administrator under this article 13, the administrator as agent for the state assumes custody and responsibility for the safekeeping of the property. A holder that pays or delivers property to the administrator in good faith and that substantially complies with sections 38-13-501 and 38-13-502 is relieved of liability arising thereafter with respect to payment or delivery of the property to the administrator.
Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 432, � 1, effective July 1, 2020.