(a) Except as otherwise provided in subsection (b), a holder required to file a report under § 18-28-207 shall maintain the records containing the information required to be included in the report for ten (10) years after the holder files the report, unless a shorter period is provided by rule of the administrator.
(b) A business association or financial organization that sells, issues, or provides to others for sale or issue in this state, traveler's checks, money orders, or similar instruments other than third-party bank checks, on which the business association or financial organization is directly liable, shall maintain a record of the instruments while they remain outstanding, indicating the state and date of issue, for three (3) years after the holder files the report.
Structure Arkansas Code
Subtitle 3 - Personal Property
Chapter 28 - Unclaimed Property
Subchapter 2 - Unclaimed Property Act
§ 18-28-202. Presumptions of abandonment
§ 18-28-203. Contents of safe deposit box or other safekeeping depository
§ 18-28-204. Rules for taking custody
§ 18-28-206. Burden of proof as to property evidenced by record of check or draft
§ 18-28-207. Report of abandoned property
§ 18-28-208. Payment or delivery of abandoned property
§ 18-28-209. Notice and publication of lists of abandoned property
§ 18-28-210. Custody by state — Recovery by holder — Defense of holder
§ 18-28-211. Crediting of dividends, interest, and increments to owner's account
§ 18-28-212. Public sale of abandoned property
§ 18-28-213. Deposit of funds. — Definition
§ 18-28-214. Claim of another state to recover property
§ 18-28-215. Filing claim with administrator — Handling of claims by administrator
§ 18-28-216. Action to establish claim
§ 18-28-217. Election to take payment or delivery
§ 18-28-219. Periods of limitation
§ 18-28-220. Requests for reports and examination of records
§ 18-28-221. Retention of records
§ 18-28-223. Interstate agreements and cooperation — Joint and reciprocal actions with other states
§ 18-28-224. Interest and penalties
§ 18-28-225. Agreement to locate property
§ 18-28-226. Foreign transactions
§ 18-28-227. Transitional provisions
§ 18-28-229. Uniformity of application and construction