A person claiming a United States savings bond escheated to the State under Section 27-18-75, or for the proceeds from the bond, may file a claim with the administrator. The administrator may approve the claim if the person is able to provide sufficient proof of the validity of the person's claim. No costs of prior court action regarding the savings bond or bonds which are the subject of the person's claim may be taxed against that person. Once a bond, or the proceeds from the bond, are remitted to a claimant, no action thereafter may be maintained by any other person against the administrator, the State, or any officer of the State, for or on account of the funds. The person's sole remedy, if any, must be against the claimant who received the bond or proceeds from the bond.
HISTORY: 2015 Act No. 81 (H.3852), Section 2, eff June 11, 2015.
Editor's Note
2015 Act No. 81, Section 3, provides as follows:
"SECTION 3. This act applies to any United States savings bond that reaches maturity on, before, or after the effective date of this act."