Intangible property held for the owner by a court, state, or other government, governmental subdivision or agency, public corporation, or public authority which remains unclaimed by the owner for more than one year after becoming payable or distributable is presumed abandoned. Intangible property held by a state court shall escheat to the state pursuant to the provisions of § 8-12-1 — § 8-12-3.
History of Section.
P.L. 1986, ch. 500, § 3; P.L. 2010, ch. 231, § 4; P.L. 2010, ch. 238, § 4.