Title 66, Property

(1) A holder required to file a report under § 66-29-123 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 is prescribed by rule of the treasurer. A holder may sat…

Property is reportable and payable or deliverable under this part even if the owner fails to make demand or present an instrument or document otherwise required to obtain payment.

(a) Any holder of property not yet presumed abandoned under this part may enter into agreements as may be necessary to ascertain the whereabouts of the apparent owner; provided, that costs associated with such agreements must not be deducted from the property or charged to the ow…

(a) The notice under § 66-29-128 must contain a heading that reads substantially as follows: “Notice: The State of Tennessee requires us to notify you that your property may be transferred to the custody of the treasurer if you do not contact us within thirty (30) days after the …

(a) The treasurer shall give notice to an apparent owner that property presumed abandoned and that appears to be owned by the apparent owner is held by the treasurer under this part. The treasurer may prescribe by rule a minimum dollar value for items for which notice is sent. (b…

Unless otherwise prohibited by any law of this state, on request of the treasurer, each officer, agency, board, commission, division, and department of this state, any body, politic and corporate, created by this state for a public purpose, and each political subdivision of this …

(1) Under 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 the treasurer under this part; or(2) Made payment…

(a) A holder may deduct a dormancy charge from property required to be paid or delivered to the treasurer if:(1) A valid and enforceable contract between a holder and an apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property with…

(a) Except as otherwise provided in this section, upon filing a report under § 66-29-123, the holder shall pay or deliver to the treasurer the property described in the report. Property paid to the treasurer must be remitted through an electronic funds transfer as prescribed by t…

On payment or delivery of property to the treasurer under this part, the treasurer, as agent for the state, assumes custody and responsibility for the safekeeping of the property. A holder that pays or delivers property to the treasurer in good faith and who has complied with §§ …

(a) A holder that pays money to the treasurer under this part may claim reimbursement from the treasurer of the amount paid if the holder:(1) Paid the money in error; or(2) After paying the money to the treasurer, paid the money to a person the holder reasonably believed to be en…

If property other than money is delivered to the treasurer, the owner is entitled to receive from the treasurer income or gain realized or accrued on the property before the property is sold, including, if applicable, dividends, interest, or other increments. If the property was …

(a) The treasurer may decline to take custody of property reported under § 66-29-123 if the treasurer determines that:(1) The property has a value less than the estimated expenses of notice and sale of the property; or(2) Taking custody of the property would be unlawful. (1) The …

If the treasurer takes custody of property delivered under this part and later determines that the property has no substantial commercial value or that the cost of disposing of the property will exceed the value of the property, the treasurer may return the property to the holder…

(a) Expiration, before, on, or after July 1, 2017, 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 abandoned or affect the duty of a holder to f…

(a) Except as otherwise provided in § 66-29-154, not earlier than three (3) years after receipt of property that has been presumed abandoned, the treasurer may sell the property. (b) A sale under subsection (a) must be preceded by notice to the public of:(1) The date of the sale;…

(a) The treasurer shall sell or otherwise liquidate a security no sooner than thirty-two (32) months, but no later than thirty-six (36) months, after receiving the security and giving the apparent owner notice under § 66-29-130(b)(1) and (2) that the treasurer holds the security.…

A purchaser of property at a sale conducted by the treasurer under this part takes the property free of all claims of the owner, a previous holder, or a person making a claim through the owner or holder. The treasurer shall execute documents necessary to complete the transfer of …

(a) The treasurer, upon receiving military medals, shall hold and maintain the military medals until the original owner or the owner's respective heirs or beneficiaries can be identified and the military medal returned. (b) The treasurer shall not sell a military medal. (c) The t…

(a) Except as otherwise provided in this section, the treasurer shall deposit in the general fund of the state all funds received under this part, including proceeds from the sale of property under this part. (b) The treasurer shall maintain an account with an amount of funds the…

(1) The treasurer shall:(1) Record and retain the name and last known address of each person shown on a report filed under § 66-29-123 to be the apparent owner of the property delivered to the treasurer;(2) Record and retain the name and last known address of each insured or annu…

(1) Before making a deposit of funds received under this part to the general fund of the state, the treasurer may deduct administrative costs, including, but not limited to:(1) Expenses of custody and disposition of abandoned property;(2) Costs of mailing, publication, and any ot…

Property received by the treasurer under this part is held in custody for the benefit of the owner and is not owned by the state.

(a) If the treasurer knows that property held by the treasurer under this part is subject to a superior claim of another state, the treasurer shall:(1) Report, and pay or deliver, the property to the other state; or(2) Return the property to the holder so that the holder may pay …

(a) Property held by the treasurer under this part is subject to the right of another state to take custody of the property if:(1) The property was paid or delivered to the treasurer because the records of the holder did not reflect a last known address of the apparent owner in a…

(a) A person claiming to be the owner of property held by the treasurer may file a claim for the property in the format prescribed by the treasurer. The claimant shall verify the claim as to its completeness and accuracy. (b) The treasurer may waive the requirement in subsection …

(a) The treasurer shall pay or deliver property to a claimant under § 66-29-152:(1) If the treasurer receives evidence sufficient to establish to the reasonable satisfaction of the treasurer that the claimant is the owner of the property; or(2) Upon order of a court in accordance…

(a) Not later than thirty (30) days after a claim is approved by the treasurer under § 66-29-153, the treasurer shall pay or deliver to the owner the property or the net proceeds from a sale of the property, together with dividends, interest, or other increments to which the owne…

Not later than one (1) year after filing a claim with the treasurer under § 66-29-152, the claimant may commence an action against the treasurer in the chancery court for Davidson County to appeal a claim that has been denied or upon which the treasurer has not acted. A copy of t…

(1) If a person does not file a report required by § 66-29-123, or the treasurer believes that a person may have filed an inaccurate, incomplete, or false report, the treasurer may require the person to file a verified report on a form prescribed by the treasurer. The report must…

(1) The treasurer, at reasonable times and upon providing reasonable notice, may:(1) Examine the records of a person to determine whether the person has complied with this part, including appropriate records in the possession of an agent of the person under examination, if such r…

(a) The treasurer shall prescribe by rule procedures and standards for an examination under § 66-29-157, including procedures and standards for the use of an estimation, extrapolation, and statistical sampling during an examination. (b) An examination under § 66-29-157 must be pe…

(a) Records obtained in the course of conducting an examination under § 66-29-157, including work papers compiled by the treasurer or the treasurer's agents, employees, or designated representatives, and any information that identifies the fact that a particular person, instituti…

(a) A record of a putative holder showing an unpaid debt or undischarged obligation is prima facie evidence of the debt or obligation. (b) A putative holder may establish by a preponderance of the evidence that there is no unpaid debt or undischarged obligation with respect to su…

If a person subject to examination under § 66-29-157 does not retain the records required by § 66-29-126, the treasurer may determine the amount of property due using a reasonable method of estimation based on all information available to the treasurer, including extrapolation an…

(1) At the conclusion of an examination under § 66-29-157, unless waived in writing by the person being examined, the treasurer shall provide to the person whose records were examined a complete and unredacted examination report, which must identify in detail:(1) The work perform…

(a) If a person subject to examination under § 66-29-157 believes the person conducting the examination has made an unreasonable or unauthorized request or is not proceeding expeditiously to complete the examination, the person in a record may ask the treasurer to intervene and t…

(a) The treasurer may contract with a person to conduct an examination under this part. The treasurer shall make any contract entered into under this section available for public inspection during normal business hours. (b) Not less than sixty (60) days before contracting with a …

(a) Not later than four (4) months after the end of a fiscal year, the treasurer shall compile and submit a report to the governor, comptroller of the treasury, speaker of the senate, and speaker of the house of representatives which must contain the following information for the…

If the treasurer determines from an examination conducted under § 66-29-157 that a putative holder has failed or refused to pay or deliver property to the treasurer which is reportable under this part, the treasurer shall issue a determination of the putative holder's liability w…

(a) Not later than thirty (30) days after receipt of a notice of determination of liability under § 66-29-166 a putative holder may request an informal conference with the treasurer to review the determination. The treasurer may designate an employee to act on behalf of the treas…

A putative holder may seek relief from a determination under § 66-29-166 by seeking judicial review of the determination under § 66-29-169.

(a) Not later than ninety (90) days after receiving notice of the treasurer's determination under § 66-29-166, the putative holder may:(1) File an action against the treasurer in the chancery court for Davidson County challenging all or part of the treasurer's determination of li…

(a) When a determination under § 66-29-166 becomes final, and after the period for filing an action under § 66-29-169, the treasurer may commence an action in the chancery court for Davidson County or in an appropriate court of another state to enforce the determination and secur…

(1) The treasurer may:(1) Securely exchange information with another state or foreign country relating to property presumed abandoned or relating to the possible existence of property presumed abandoned; and(2) Authorize in a record another state or foreign country, or a person a…

(a) The treasurer, with the approval of the attorney general and reporter, may join other states or foreign countries to examine and seek enforcement of this part against any person believed to be holding property reportable under this part. (b) On request of another state or for…