When administrator shall honor claim for property.
Checkout our iOS App for a better way to browser and research.
(1) The administrator shall pay or deliver property to a claimant under Subsection 67-4a-903(1) if the administrator receives evidence sufficient to establish to the satisfaction of the administrator that the claimant is the owner of the property.
(2) Not later than 90 days after a claim is filed under Subsection 67-4a-903(1), the administrator shall allow or deny the claim and give the claimant notice in a record of the decision.
(3) If the claim is denied under Subsection (2):
(a) the administrator shall inform the claimant of the reason for the denial and specify what additional evidence, if any, is required for the claim to be allowed;
(b) the claimant may file an amended claim with the administrator or commence an action under Section 67-4a-906; and
(c) the administrator shall consider an amended claim filed under Subsection (3)(b) as an initial claim.
(4) If the administrator does not take action on a claim during the 90-day period following the filing of a claim under Subsection 67-4a-903(1), the claim is considered denied.