Missouri Revised Statutes
Chapter 447 - Lost and Unclaimed Property
Section 447.545 - No liability for claims by holder after delivery to state — legal actions, procedure.

Effective - 28 Aug 1998
447.545. No liability for claims by holder after delivery to state — legal actions, procedure. — 1. Upon the payment or delivery of abandoned property, the state shall assume custody and shall be responsible for the safekeeping thereof. Any person who pays or delivers abandoned property pursuant to sections 447.500 to 447.595 is relieved of all liability for any claim which then exists or which thereafter may arise or be made in respect to the property.
2. In the event legal proceedings are instituted against a prior holder in a court of this state, or in any other state or federal court, by any other state claiming to be entitled to unclaimed funds or abandoned property previously paid or delivered to the treasurer, such holder shall give timely written notice to the treasurer and the attorney general of this state of such proceedings, or in the alternative at least ten days before the return date on which an answer or similar pleading is required to be filed. The attorney general may intervene or take such other action as the attorney general deems appropriate or necessary to protect the interests of this state.
3. If the notice provided in subsection 2 of this section is given by the holder and thereafter a judgment is entered against the holder for any amount paid to the treasurer pursuant to the terms of sections 447.500 to 447.595, the treasurer shall, upon being furnished with proof thereof, return to the holder the amount of such judgment, not to exceed the amount of the property reported which is the subject of the dispute.
4. The holder of any interest pursuant to section 447.520 evidenced only by the stock records or membership records of the business association may deliver a duplicate certificate to the treasurer. Upon such delivery, the holder and any transfer agent, registrar, or other person acting for or on behalf of the holder in executing or delivering such duplicate certificate shall be relieved from all liability of every kind to the person acquiring the original certificate or the duplicate of such certificate issued to the treasurer, not to exceed the liquidated value of the property on the date of delivery, or if unliquidated, the market value of the property on the date of delivery. If the holder elects not to issue and deliver a duplicate certificate, the holder shall transfer title of the underlying shares to the state on the records of the issuing corporation in a manner acceptable to the treasurer.
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(L. 1984 H.B. 1088 § 14, A.L. 1993 H.B. 566, A.L. 1994 S.B. 757, A.L. 1998 H.B. 1510)

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XXIX - Ownership and Conveyance of Property

Chapter 447 - Lost and Unclaimed Property

Section 447.010 - Duty of persons finding lost money, goods.

Section 447.020 - Appointment of appraisers by circuit judge.

Section 447.030 - Appraiser's list, where filed — publication.

Section 447.040 - Procedure if no owner appears, when.

Section 447.050 - Restoration of property, when — owner may sue, when.

Section 447.060 - Failure to discover — penalty.

Section 447.070 - Goods retained until payment of charges.

Section 447.080 - Sale of unclaimed property.

Section 447.090 - Unclaimed proceeds.

Section 447.100 - Carrier's responsibility ceases, when.

Section 447.110 - Sale of property upon which advances are made, when.

Section 447.200 - Inactive consumer deposit accounts, notice, fees — remittance to abandoned fund account, when.

Section 447.500 - Law, how cited — exceptions — purpose.

Section 447.503 - Definitions.

Section 447.505 - Property held or owing by banking, financial organization or business presumed abandoned, when — exception.

Section 447.506 - Imposition of charges including prepayment penalties on certificates of deposit, requirements — not to affect unclaimed property.

Section 447.510 - Unclaimed funds held and owing by insurance company presumed abandoned, when — unclaimed funds defined — distribution of abandoned property, when.

Section 447.517 - Utilities, funds held or owing presumed abandoned, when.

Section 447.520 - Stock, certificates and ownership — dividend profit — distribution or interest payment, held or owing by business association presumed abandoned, when.

Section 447.527 - Dissolution of business — unclaimed intangible personal property presumed abandoned, when.

Section 447.530 - Fiduciary holding intangible personal property for benefit of another presumed abandoned, when, exception.

Section 447.532 - Courts — public corporations — public authority — officers — political subdivisions holding intangible personal property for another presumed abandoned, when.

Section 447.533 - Interest, dividends or their earnings deemed unclaimed property, when.

Section 447.534 - United States savings bonds deemed abandoned, when — proceeds to escheat to the state, when — filing of a claim, procedure.

Section 447.535 - All other intangible property presumed abandoned, when — ongoing business relationships, certain items not presumed abandoned, when.

Section 447.536 - Abandonment period, effective when — exception for payroll checks.

Section 447.537 - Owner of property in another state and holder subject to that state's jurisdiction, effect.

Section 447.539 - Report to treasurer on property presumed abandoned — content — filed, when — extension of filing time — location of owner, duties — penalty — assessment, reconsideration, interest — waiver — determination of amounts, estimation.

Section 447.540 - Charitable, fraternal and other federally tax-exempt entities to report and remit unclaimed property.

Section 447.541 - Notices required — publication form, content — mailed notice, requirements, content, exception — treasurer's duty.

Section 447.543 - Delivery of property to treasurer, when — retention of approved costs — errors of presumption, procedure — abandoned fund account established — payment of claims — records subject to public inspection, exception.

Section 447.545 - No liability for claims by holder after delivery to state — legal actions, procedure.

Section 447.547 - Law of abandoned property not applicable, when.

Section 447.548 - Reportable periods, no enforcement after three years, when — fraudulent report, enforcement for six years.

Section 447.549 - Statute of limitations not a defense for governmental agencies in proceedings by treasurer to recover unclaimed property.

Section 447.558 - Sale of property, when — publication of notice — purchaser's title — proceeds, deposit.

Section 447.559 - Historical review of items by state historical society, when — fee, how determined.

Section 447.560 - Record of property, content — retained for public inspection — information not public record, when — public record, when — penalty for disclosure — military medals, procedure — United States savings bonds, procedure.

Section 447.561 - Destruction or disposal of property by treasurer if of no value — no liability for state or holder.

Section 447.562 - Claim to be filed for property delivered to the state, form, procedure, penalty — claims paid by holder, reimbursed by treasurer, when, exception.

Section 447.565 - Hearing on claims by treasurer — payment of claim, amount, no charges authorized — interest — treasurer discharged from liability — claimant accountable to person with superior right.

Section 447.569 - Appeal of treasurer's decision or failure to act, when — report filed, deemed contested case.

Section 447.571 - Custody of property, powers of treasurer to receive or decline — failure to act, effect — postponing delivery, when, limitation.

Section 447.572 - Examination of records by treasurer and persons authorized, when.

Section 447.575 - Enforcing delivery, court action.

Section 447.577 - Reports — payment or delivery of property, failure to make — false statements in report — penalties.

Section 447.579 - Rules authorized.

Section 447.581 - Agreements to locate or reveal whereabouts of property, requirements for validity — agreements to pay or assist in recovery of property, requirements for enforceability — registration of recovery representative, requirements — suspe...

Section 447.583 - Reciprocal agreements with other states — attorney general's duties, when.

Section 447.584 - Agreements — property held by business entities in other states or governmental entities — treasurer, duties — fees.

Section 447.585 - Another state may recover property from state of Missouri, when.

Section 447.587 - Safe deposit box contents that become unclaimed property — right to fees, charges and authority to enforce possessory liens.

Section 447.595 - Bond required for arrest warrantor, probation or civil cash bond, proceeds deemed unclaimed property, when.

Section 447.620 - Definitions.

Section 447.622 - Petition, requirements.

Section 447.624 - Proceeding, where commenced, procedure.

Section 447.625 - Procedures in home rule cities.

Section 447.626 - Expeditious treatment.

Section 447.628 - Notice of pendency of suit, effect.

Section 447.630 - Hearing, plan of rehabilitation.

Section 447.632 - Grant of petition, requirements.

Section 447.634 - Grant of temporary possession.

Section 447.636 - Quarterly report.

Section 447.638 - Restoration of possession, compensation.

Section 447.640 - Quitclaim judicial deed may be granted, conditions, effect.

Section 447.700 - Definitions.

Section 447.701 - Eligible projects, director's duties — owner to repay, when.

Section 447.702 - Department loans to eligible projects, guidelines, conditions.

Section 447.704 - Loan guarantees, guidelines, conditions — private lender immune from liability, when.

Section 447.706 - Grants, guidelines, conditions.

Section 447.708 - Tax credits, criteria, conditions — definitions — eligibility of certain demolition costs.

Section 447.710 - Property reuse revolving fund — lapse into general revenue prohibited — investment of fund.

Section 447.712 - Tort immunity.

Section 447.714 - Hazardous substances on property, duties of purchaser — department of natural resources, duties.

Section 447.716 - Failure of purchaser to perform, sanctions.

Section 447.718 - Rulemaking authority, procedure.