Section 892-2-1-.11 - Responsibilities Of The Holder (Alabama Administrative Code)

§ 892-2-1-.11. Responsibilities Of The Holder

(1) It shall be the responsibility of the Holder:

(a) to determine Abandoned Property subject to the Act, and dormancy reporting timelines;

(b) to determine state custody of each property;

(c) to report and remit Abandoned Property to the Treasurer's Office by the reporting deadline, including all owner identifying information available in the Holder's files, and;

(d) to perform due diligence and written notice to the Apparent Owner as required by the Act prior to remitting property to the Treasurer's Office.

(Adopted by Alabama Administrative Monthly Volume XXXIII, Issue No. 04, January 30, 2015, eff. February 3, 2015.)

Author: Ralph Ainsworth, Unclaimed Property Division, Office of State Treasurer

Statutory Authority: Code of Ala. 1975, § 35-12-20, et seq.

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