Deduction of Administrative Costs Before Deposit of Funds

1. Law
2. Tennessee Code
3. Property
4. Abandoned or Unclaimed Property
5. Uniform Unclaimed Property Act
6. Deduction of Administrative Costs Before Deposit of Funds

Before making a deposit of funds received under this part to the general fund of the state, the treasurer may deduct administrative costs, including, but not limited to:

1. Expenses of custody and disposition of abandoned property;
2. Costs of mailing, publication, and any other outreach efforts in connection with abandoned property;
3. Reasonable service charges; and
4. Expenses incurred in examining records of a putative holder of property and collecting property from a putative holder determined by the treasurer to hold property required to be delivered to the treasurer under this part.

Download our app to see the most-to-date content.