Dormancy charge

Checkout our iOS App for a better way to browser and research.

44-305. Dormancy charge

A holder, except an agency of this state, may deduct from property presumed abandoned a charge imposed by reason of the owner's failure to claim the property within a specified time if there is a valid and enforceable written contract between the holder and the owner under which the holder may impose the charge and the holder regularly imposes the charge and the charge is not regularly reversed or otherwise canceled. The amount of the deduction is limited to an amount that is not unconscionable.


Download our app to see the most-to-date content.