(a) Except as otherwise provided in subsection (b), a holder required to file a report under Section 35-12-76 shall maintain the records containing the information required to be included in the report for 10 years after the holder files the report, unless a shorter period is provided by rule of the Treasurer.
(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 years after the holder files the report.
Structure Code of Alabama
Chapter 12 - Lost or Unclaimed Property.
Article 2 - Uniform Disposition of Unclaimed Property Act.
Article 2A - Uniform Disposition of Unclaimed Property Act of 2004.
Section 35-12-70 - Short Title.
Section 35-12-71 - Definitions.
Section 35-12-72 - Presumption of Abandonment.
Section 35-12-73 - Exemptions.
Section 35-12-74 - Rules for Taking Custody.
Section 35-12-75 - Dormancy Charges.
Section 35-12-76 - Report of Abandoned Property.
Section 35-12-77 - Payment or Delivery of Abandoned Property.
Section 35-12-78 - Notification of Abandoned Property.
Section 35-12-79 - Custody by State; Recovery by Holder; Defense of Holder.
Section 35-12-80 - Public Sale of Abandoned Property.
Section 35-12-81 - Deposit of Funds.
Section 35-12-82 - Claim of Another State to Recover Property.
Section 35-12-83 - Filing and Handling of Claims.
Section 35-12-84 - Filing of a Claim - Intestate and Small Claims.
Section 35-12-85 - Action to Establish a Claim.
Section 35-12-86 - Election to Take Payment or Delivery.
Section 35-12-87 - Disposition of Property Having No Substantial Commercial Value.
Section 35-12-88 - Periods of Limitation.
Section 35-12-89 - Requests for Reports and Examination of Records.
Section 35-12-90 - Retention of Records.
Section 35-12-91 - Interstate Agreements.
Section 35-12-92 - Penalties and Enforcement.
Section 35-12-93 - Agreement to Locate Property.
Section 35-12-94 - Confidentiality; Staff.
Section 35-12-95 - Transitional Provisions.
Section 35-12-96 - Uniformity of Application and Construction.