(1) Expiration, before, on, or after July 1, 2020, 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 file a report or pay or deliver property to the administrator under this article 13.
The administrator shall not commence an action or proceeding to enforce this article13 with respect to the reporting, payment, or delivery of property more than five years after the holder filed a nonfraudulent report with the administrator under section 38-13-401. The parties may agree in a record to extend the limitation in this subsection (2).
The administrator shall not commence an action, proceeding, or examination withrespect to a duty of a holder under this article 13 more than ten years after the duty arose.
Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 435, § 1, effective July 1, 2020.