(a) The last-known address of an owner is a description, code, or other indication of the location of the owner on the holder's books and records which identifies the state of the last-known address of the owner.
(b) The address of the owner of a life or endowment insurance policy or annuity contract or its proceeds is presumed to be the address of the insured or annuitant if a person other than the insured or annuitant is entitled to the amount owed under the policy or contract and the address of the other person is not known by the insurance company and cannot be determined under § 1140 of this title.