Title 47, Property

The administrator, at reasonable times and on reasonable notice, may: 1. Examine the records of a person, including examination of appropriate records in the possession of an agent of the person under examination, if the records are reasonably necessary to determine whether the p…

1. The commissioner shall adopt rules governing an examination under section 47-30.2-55, including rules for use of an estimation, extrapolation, and statistical sampling in conducting an examination. An examination commenced after adoption of rules under this subsection must com…

1. Records obtained from a private entity for purposes of an examination under this chapter and records, including work papers, compiled by the administrator or the administrator's agent in the course of conducting an examination under section 47-30.2-55 are subject to the securi…

1. A record of a putative holder showing an unpaid debt or undischarged obligation is prima facie evidence of the debt or obligation. 2. A putative holder may establish by a preponderance of the evidence that there is no unpaid debt or undischarged obligation for a debt or obliga…

If a person subject to examination under section 47-30.2-55 fails to retain the records required by section 47-30.2-24, the administrator may determine the value of property due using a reasonable method of estimation based on all information available to the administrator, inclu…

At the conclusion of an examination under section 47-30.2-55, the administrator or the administrator's agent shall provide to the person whose records were examined a complete and unredacted examination report that specifies: 1. The work performed; 2. The property types reviewed;…

1. If a person subject to examination under section 47-30.2-55 believes the person conducting the examination has made an unreasonable or unauthorized request or is not proceeding expeditiously to complete the examination, the person subject to the examination may ask the adminis…

If the administrator determines from an examination conducted under section 47-30.2-55 that a putative holder failed or refused to pay or deliver to the administrator property which is reportable under this chapter, the administrator shall issue a determination of the putative ho…

1. The administrator may: a. Exchange information with another state or foreign country relating to property presumed abandoned or relating to the possible existence of property presumed abandoned; and b. Authorize in a record another state or foreign country or a person acting o…

1. The administrator may join another state or foreign country to examine and seek enforcement of this chapter against a putative holder. 2. The board may pursue an action on behalf of this state to recover property subject to this chapter but delivered to the custody of another …

1. An administrator may collect interest from a holder that fails to report, pay, or deliver property within the time prescribed by this chapter. Interest must be calculated at an annual rate of one percent of the sum for each thirty-day period of delinquency or fraction of delin…

1. If a holder enters into a contract or other arrangement for the purpose of evading an obligation under this chapter or otherwise willfully fails to perform a duty imposed on the holder under this chapter, the commissioner may require the holder to pay the administrator, in add…

1. A holder shall pay the penalty and interest or request a waiver or reduction within thirty days from the date of the receipt of a notice of a penalty and interest assessment. 2. A request for a waiver or reduction of the penalty or interest must be in writing and provide the g…

An agreement by an apparent owner and another person, the primary purpose of which is to locate, deliver, recover, or assist in the location, delivery, or recovery of property held by the administrator, is enforceable only if: 1. The person who entered into the agreement with the…

1. An agreement to locate property is void if: a. Subject to subdivision b, the agreement is entered into during the period beginning on the date the property was presumed abandoned and ending twenty- four months after the payment or delivery; or b. A provision in an agreement de…

1. An apparent owner that contracts with another person to locate, deliver, recover, or assist in the location, delivery, or recovery of property of the apparent owner which is held by the administrator may designate the person as the agent of the apparent owner. The designation …

Except as otherwise provided in sections 47-30.2-26 and 47-30.2-27, a holder is not required under this chapter to include confidential information in a notice the holder is required to provide to an apparent owner under this chapter.

1. If a holder is required to include confidential information in a report to the administrator, the information must be provided by a secure means. 2. If confidential information in a record is provided to and maintained by the administrator or administrator's agent as required …

1. Except to the extent prohibited by law other than this chapter, the administrator or administrator's agent shall notify a holder as soon as practicable of: a. A suspected loss, misuse or unauthorized access, disclosure, modification, or destruction of confidential information …

1. This chapter does not relieve a holder of a duty that arose before July 1, 2021, to report, pay, or deliver property. A holder that fails to comply with the law in effect before July 1, 2021, is subject to the applicable enforcement and penalty provisions that existed before J…

The administrator may bring an action in a court of competent jurisdiction to enforce this chapter. A person in this state aggrieved by an audit that in any form requests the payment of money or a civil penalty is entitled to a hearing before the board. A demand for a hearing mus…