Utah Admin. Code R966-1-19 - Early Reporting and Remittance of Property

(1) A holder may pay or deliver property to the administrator before the property is presumed abandoned under the Act if the holder:

(a) Provides the apparent owner of the property any notice required by Section 67-4a-501 of the Act and provides the administrator evidence of the holder's compliance with any required notice;

(b) Includes with the payment or delivery a report regarding the property conforming to the Act and this Section; and

(c) first obtains the administrator's written consent to accept payment or delivery of the property.

(2) A holder's request for the administrator's consent to pay or deliver property before the property is presumed abandoned under the Act must be in writing.

(3) If the administrator fails to respond to the request not later than 30 days after receipt of the request, the administrator is deemed to consent to the payment or delivery of the property and the payment or delivery is considered to have been made in good faith.

(4) On payment or delivery of property under this Subsection, the property is presumed abandoned.

Notes

Utah Admin. Code R966-1-19

Adopted by Utah State Bulletin Number 2020-05, effective 1/22/2020