(a) A person, excluding another state, claiming property paid or delivered to the treasurer may file a claim on a form prescribed by the treasurer and sworn under oath by the claimant.

(b) The treasurer shall review every abandoned property claim filed and determine whether to allow or deny the claim as promptly as possible, consistent with the need to determine the accuracy of the claim. The treasurer may request additional information from a claimant in order to make a determination of the claim. The treasurer shall give written notice of the decision to the claimant. If the claim is denied, the treasurer shall inform the claimant of the reasons for the denial and specify what additional evidence is required before the claim will be allowed. The claimant may then file a new claim with the treasurer or maintain an appeal under section 1256 of this title.

(c) The property or the net proceeds of a sale of the property shall be delivered or paid by the treasurer to the claimant as promptly as possible, provided that the treasurer has sufficient funds under section 1253 of this title.

(d) Any obligation to reimburse payment to the state treasurer under this chapter shall be the obligation of this state. Any amount payable pursuant to the reimbursement provisions of this chapter or payable under any judgment against the state pursuant to this chapter, shall be paid from the separate trust fund established by this chapter or, if the separate trust fund is insufficient, from state taxes levied upon all taxable property or income. If the judgment remains unsatisfied 90 days following the date of entry thereof and the conclusion of any appeal of the judgment, the amount of the judgment may be used as a credit against any taxes then due or thereafter becoming due to the state by the person in whose favor judgment was rendered. (Added 2005, No. 161 (Adj. Sess.), § 1.)