Section 892-2-1-.02 - Definitions (Alabama Administrative Code)

§ 892-2-1-.02. Definitions

(1) "Abandoned or Unclaimed Property" means any property which is presumed abandoned under the Act.

(2) "Act" means the State of Alabama Uniform Disposition of Unclaimed Property Act of 2004, Sections 35-12-70 through and including 35-12-96, Code of Ala. 1975, as amended.

(3) "Apparent Owner" or "Claimant" means the individual(s) signing and submitting the claim form and supporting documentation for recovery of unclaimed property.

(4) "Contents" means any and all property found within a safe deposit box presumed abandoned and reportable to the Treasurer's Office under the Act.

(5) "Dormancy" means inactivity or lack of owner contact for a prescribed time period as specified in the Act.

(6) "Holder" means a person, as defined in the Act, in possession of property presumed abandoned under the terms of the Act.

(7) "Treasurer's Office" means the office of the State Treasurer for the State of Alabama.

(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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