(1) Property held by the administrator under this article 13 is subject to the right of another state to take custody of the property if:
(a) The property was paid or delivered to the administrator because the records of the holder did not reflect a last-known address in the other state of the apparent owner and:
The other state establishes that the last-known address of the apparent owner or otherperson entitled to the property was in the other state; or
Under the law of the other state, the property has become subject to a claim ofabandonment by the other state;
The records of the holder did not accurately identify the owner of the property, thelast-known address of the owner was in another state, and, under the law of the other state, the property has become subject to a claim of abandonment by the other state;
The property was subject to the custody of the administrator of this state under section 38-13-305 and, under the law of the state of domicile of the holder, the property has become subject to a claim of abandonment by the state of domicile of the holder; or (d) The property:
Is a sum payable on a traveler's check, money order, or similar instrument that waspurchased in the other state and delivered to the administrator under section 38-13-306; and
Under the law of the other state, has become subject to a claim of abandonment bythe other state.
A claim by another state to recover property under this section must be presented in aform prescribed by the administrator unless the administrator waives presentation of the form.
The administrator shall decide a claim under this section not later than ninety daysafter it is presented. If the administrator determines that the other state is entitled under subsection (1) of this section to custody of the property, the administrator shall allow the claim and pay or deliver the property to the other state.
The administrator may require another state, before recovering property under thissection, to agree to indemnify this state and its officers and employees against any liability on a claim to the property.
Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 440, § 1, effective July 1, 2020.