Title 14, ESTATES OF DECEDENTS

14-5-203. WHEN OTHER TAX-DEFERRED ACCOUNT PRESUMED ABANDONED. Subject to the provisions of section 14-5-209, Idaho Code, and except for property described in section 14-5-202, Idaho Code, unclaimed accounts in the Idaho college savings program subject to the provisions of section…

14-5-204. WHEN CUSTODIAL ACCOUNT FOR MINOR PRESUMED ABANDONED. (1) Subject to the provisions of section 14-5-209, Idaho Code, property held in an account established under a state’s uniform gifts to minors act or uniform transfers to minors act is presumed abandoned if it is uncl…

14-5-205. WHEN CONTENTS OF SAFE DEPOSIT BOX PRESUMED ABANDONED. Tangible property held in a safe deposit box and proceeds from a sale of the property by the holder permitted by law of this state other than this chapter are presumed abandoned if the property remains unclaimed by t…

14-5-206. WHEN STORED VALUE CARD PRESUMED ABANDONED. (1) Subject to the provisions of section 14-5-209, Idaho Code, the net card value of a stored value card, other than a payroll card that has not been duly converted to a federal deposit insurance corporation-insured, owner acce…

14-5-207. WHEN SECURITY PRESUMED ABANDONED. (1) Subject to the provisions of section 14-5-209, Idaho Code, a security is presumed abandoned five (5) years after: (a) The date a second consecutive communication sent by the holder by first class United States mail to the apparent o…

14-5-208. WHEN RELATED PROPERTY PRESUMED ABANDONED. At and after the time property is presumed abandoned under this chapter, any other property right or interest accrued or accruing from the property and not previously presumed abandoned is also presumed abandoned.

14-5-209. INDICATION OF APPARENT OWNER INTEREST IN PROPERTY. (1) The period after which property is presumed abandoned is measured from the later of: (a) The date the property is presumed abandoned under this part; or (b) The latest indication of interest by the apparent owner in…

14-5-210. KNOWLEDGE OF DEATH OF INSURED OR ANNUITANT. (1) As used in this section, "death master file" means the United States social security administration death master file or other database or service that is at least as comprehensive as the United States social security admi…

14-5-211. DEPOSIT ACCOUNT FOR PROCEEDS OF INSURANCE POLICY OR ANNUITY CONTRACT. If proceeds payable under a life or endowment insurance policy or annuity contract are deposited into an account with check- or draft-writing privileges for the beneficiary of the policy or contract a…

14-5-212. HOLDING PERIOD DETERMINED BY TYPE OF LIABILITY. The allowable holding period shall be determined by the type of liability or property payable, not the method of payment.

14-5-301. ADDRESS OF APPARENT OWNER TO ESTABLISH PRIORITY. In this part, the following rules apply: (1) The last known address of an apparent owner is any description, code, or other indication of the location of the apparent owner that identifies the state, even if the descripti…

14-5-302. ADDRESS OF APPARENT OWNER IN THIS STATE. The administrator may take custody of property that is presumed abandoned, whether located in this state, another state, or a foreign country if: (1) The last known address of the apparent owner in the records of the holder is in…

14-5-303. IF RECORDS SHOW MULTIPLE ADDRESSES OF APPARENT OWNER. (1) Except as provided in subsection (2) of this section, if records of a holder reflect multiple addresses for an apparent owner and this state is the state of the most recently recorded address, this state may take…

14-5-304. HOLDER DOMICILED IN THIS STATE. (1) Except as provided in subsection (2) of this section or section 14-5-302 or 14-5-303, Idaho Code, the administrator may take custody of property presumed abandoned, whether located in this state, another state, or a foreign country, i…

14-5-305. CUSTODY IF TRANSACTION TOOK PLACE IN THIS STATE. Except as provided in section 14-5-302, 14-5-303, or 14-5-304, Idaho Code, the administrator may take custody of property presumed abandoned whether located in this state or another state if the transaction out of which t…

14-5-306. TRAVELER’S CHECK, MONEY ORDER, OR SIMILAR INSTRUMENT. The administrator may take custody of sums payable on a traveler’s check, money order, or similar instrument presumed abandoned to the extent permissible under 12 U.S.C. 2501 through 2503.

14-5-401. REPORT REQUIRED BY HOLDER. (1) A holder of property presumed abandoned and subject to the custody of the administrator shall report such property in a record to the administrator. The administrator may not require a holder to file a paper report and may prescribe the fo…

14-5-402. CONTENT OF REPORT. (1) The report required under section 14-5-401, Idaho Code, must: (a) Be signed by or on behalf of the holder and verified as to its completeness and accuracy; (b) If filed electronically, be in a secure format approved by the administrator that prote…

14-5-403. WHEN REPORT TO BE FILED. (1) The report required by section 14-5-401, Idaho Code, must be filed before November 1 of each year and cover the twelve (12) months preceding July 1 of that year. (2) Before the date for filing the report required by section 14-5-401, Idaho C…

14-5-404. RETENTION OF RECORDS BY HOLDER. A holder required to file a report under section 14-5-401, Idaho Code, shall retain records for ten (10) years after the later of the date the report was filed or the last date a timely report was due to be filed, unless a shorter period …

14-5-405. PROPERTY REPORTABLE AND PAYABLE OR DELIVERABLE ABSENT OWNER DEMAND. Property is reportable and payable or deliverable under this chapter even if the owner fails to make demand or present an instrument or document otherwise required to obtain payment.

14-5-406. EXEMPTION FOR IDAHO COUNTIES AND CERTAIN NONPROFIT UTILITIES. (1) Entities holding a certificate of exemption shall not be subject to the provisions of this chapter, except as set forth in this section. The following shall be eligible for a certificate of exemption from…

14-5-501. NOTICE TO APPARENT OWNER BY HOLDER. (1) Subject to the provisions of subsections (2) and (3) of this section, the holder of property presumed abandoned shall send to the apparent owner notice by first class United States mail that complies with section 14-5-502, Idaho C…

14-5-502. CONTENTS OF NOTICE BY HOLDER. (1) Notice required by section 14-5-501, Idaho Code, must contain a heading that reads substantially as follows: "Notice. The state of Idaho requires us to notify you that your property may be transferred to the custody of the state treasur…

14-5-503. NOTICE BY ADMINISTRATOR. (1) The administrator shall give notice to an apparent owner that property presumed abandoned and appearing to be owned by the apparent owner is held by the administrator under this chapter. (2) In providing notice under subsection (1) of this s…

14-5-504. COOPERATION AMONG STATE OFFICERS AND AGENCIES TO LOCATE APPARENT OWNER. Unless prohibited by law of this state other than this chapter, upon request of the administrator, each officer, agency, board, commission, division, and department of this state, any body politic a…

14-5-601. DEFINITION OF "GOOD FAITH." For the purposes of this part, payment or delivery of property is made in good faith if a holder: (1) Had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to …

14-5-602. DORMANCY CHARGE. (1) A holder may deduct a dormancy charge from property required to be paid or delivered to the administrator if: (a) A valid contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner’s failure to clai…

14-5-603. PAYMENT OR DELIVERY OF PROPERTY TO ADMINISTRATOR. (1) Except as otherwise provided in this section, upon filing a report required by section 14-5-401, Idaho Code, the holder shall pay or deliver to the administrator the property described in the report. (2) If property …

14-5-604. EFFECT OF PAYMENT OR DELIVERY OF PROPERTY TO ADMINISTRATOR. (1) Upon payment or delivery of property to the administrator under this chapter, the administrator as agent for the state assumes custody and responsibility for safekeeping the property. A holder that pays or …

14-5-605. RECOVERY OF PROPERTY BY HOLDER FROM ADMINISTRATOR. (1) A holder that under this chapter pays money to the administrator may file a claim for reimbursement from the administrator of the amount paid if the holder: (a) Paid the money in error; or (b) After paying the money…

14-5-606. PROPERTY REMOVED FROM SAFE DEPOSIT BOX. Property removed from a safe deposit box and delivered to the administrator under this chapter is subject to the holder’s right to reimbursement for the cost of opening the box and a lien or contract providing reimbursement to the…

14-5-607. CREDITING INCOME OR GAIN TO OWNER’S ACCOUNT. If property other than money is delivered to the administrator, the owner is entitled to receive from the administrator income or gain realized or accrued on the property before the property is sold. Interest on money is not …

14-5-608. ADMINISTRATOR’S OPTIONS AS TO CUSTODY. (1) The administrator may decline to take custody of property reported under section 14-5-401, Idaho Code, if the administrator determines that: (a) The property has a value less than the estimated expenses of notice and sale of th…

14-5-609. DISPOSITION OF PROPERTY HAVING NO SUBSTANTIAL VALUE — IMMUNITY FROM LIABILITY. (1) If the administrator takes custody of property delivered under this chapter and later determines that the property has no substantial commercial value or that the cost of disposing of the…

14-5-610. PERIODS OF LIMITATION AND REPOSE. (1) Expiration before, on, or after July 1, 2024, of a period of limitation on an owner’s right to receive or recover property, whether specified by contract, statute, or court order, does not prevent the property from being presumed ab…

14-5-701. PUBLIC SALE OF PROPERTY. (1) Subject to the provisions of section 14-5-702, Idaho Code, the administrator may sell property presumed abandoned. (2) Before selling property under subsection (1) of this section, the administrator shall give notice to the public of: (a) Th…

14-5-702. DISPOSAL OF SECURITIES. Securities listed on an established stock exchange must be sold at prices prevailing at the time of sale on the exchange. Other securities may be sold over the counter at prices prevailing at the time of sale or by any other method the administra…

14-5-703. RECOVERY OF SECURITIES OR VALUE BY OWNER. A person making a claim under this chapter is entitled to receive either the securities delivered to the administrator by the holder, if they still remain in possession of the administrator, or the proceeds received from the sal…

14-5-704. PURCHASER OWNS PROPERTY AFTER SALE. A purchaser of property at a sale conducted by the administrator under this chapter takes the property free of all claims of the owner, a previous holder, or a person claiming through the owner or holder. The administrator shall execu…

14-5-705. MILITARY MEDAL OR DECORATION. (1) The administrator may not sell a medal or decoration awarded for military service in the armed forces of the United States. (2) The administrator, with such organization’s, agency’s, or entity’s consent, may deliver a medal or decoratio…

14-5-801. DISPOSITION OF MONEY RECEIVED. (1) All moneys received under this chapter, including the proceeds from the sale of property under section 14-5-701, Idaho Code, shall be deposited in the unclaimed property account. (2) Moneys in the unclaimed property account are subject…

14-5-802. ADMINISTRATOR TO RETAIN RECORDS OF PROPERTY. (1) The administrator shall: (a) Record and retain the name and last known address of each person shown on a report filed under section 14-5-401, Idaho Code, to be the apparent owner of property delivered to the administrator…

14-5-803. ADMINISTRATOR HOLDS PROPERTY AS CUSTODIAN FOR OWNER. Property received by the administrator under this chapter is held in custody for the benefit of the owner and is not owned by the state.

14-5-901. CLAIM OF ANOTHER STATE TO RECOVER PROPERTY. (1) If the administrator knows that property held by the administrator under this chapter is subject to a superior claim of another state, the administrator shall: (a) Report and pay or deliver the property to the other state;…

14-5-902. WHEN PROPERTY SUBJECT TO RECOVERY BY ANOTHER STATE. (1) Property held by the administrator under this chapter is subject to the right of another state to take custody of the property if: (a) The property was paid or delivered to the administrator because the records of …

14-5-903. CLAIM FOR PROPERTY BY PERSON CLAIMING TO BE OWNER. (1) A person claiming to be the owner of property held under this chapter or the proceeds from the sale thereof by the administrator may file a claim for the property on a form prescribed by the administrator. The claim…

14-5-904. WHEN ADMINISTRATOR MUST HONOR CLAIM FOR PROPERTY. (1) The administrator shall pay or deliver property to a claimant under section 14-5-903(1), Idaho Code, if the administrator receives a complete claim providing evidence sufficient to establish to the satisfaction of th…

14-5-905. ALLOWANCE OF CLAIM FOR PROPERTY. (1) If a claim is allowed under section 14-5-904(3), Idaho Code: (a) Except upon election of donation as authorized in paragraph (c) of this subsection, the administrator shall pay or deliver to the owner the property or pay to the owner…

14-5-906. ACTION BY PERSON WHOSE CLAIM IS DENIED. A person aggrieved by a denial of a claim by the administrator or whose claim has not been acted upon within the time provided in section 14-5-904(3), Idaho Code, may obtain a review as provided in section 67-5244, Idaho Code, by …