A. The State Treasurer shall consider any claim filed under the Uniform Unclaimed Property Act and may hold a hearing and receive evidence concerning it. The procedure to be followed hereunder shall be as prescribed by the Administrative Procedures Act. If a hearing is held, the State Treasurer shall prepare a finding and decision in writing on each claim filed, stating the substance of any evidence heard by the State Treasurer and the reasons for the State Treasurer’s decision. The decision shall be a public record.
B. Upon approval by the State Treasurer, the claim shall be paid forthwith from the Unclaimed Property Fund. The claim shall be paid without deduction for costs of notices or sale or for service charges.
C. The State Treasurer shall not pay monies to rightful owners, or their heirs, devisees, and assigns, exceeding the reimbursement amount the Treasurer shall receive from the Mineral Owner’s Fund attributable to such payments to rightful owners, or their heirs, devisees, and assigns.
D. Claims against the Mineral Owner’s Fund shall be subject to the same statutory requirements and administrative rules as applicable to claims under the Uniform Unclaimed Property Act.
Added by Laws 1967, c. 107, § 25, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 30, eff. Sept. 1, 1991; Laws 1999, c. 10, § 22, eff. July 1, 1999; Laws 2009, c. 433, § 5, eff. Nov. 1, 2009; Laws 2010, c. 241, § 5, emerg. eff. May 10, 2010.