70-9-808. Report of abandoned property. (1) A holder of property presumed abandoned shall make a report to the administrator concerning the property.
(2) The report must be verified and must contain:
(a) a description of the property;
(b) except with respect to a traveler's check or money order, the name, if known, and last-known address, if any, and the social security number or taxpayer identification number, if readily ascertainable, of the apparent owner of property of the value of $50 or more;
(c) an aggregated amount of items valued under $50 each;
(d) in the case of an amount of $50 or more held or owing under an annuity or a life or endowment insurance policy, the full name and last-known address of the annuitant or insured and of the beneficiary;
(e) in the case of property held in a safe deposit box or other safekeeping depository, an indication of the place where it is held and where it may be inspected by the administrator and any amounts owing to the holder;
(f) the date, if any, on which the property became payable, demandable, or returnable and the date of the last transaction with the apparent owner with respect to the property; and
(g) other information that the administrator by rule prescribes as necessary for the administration of this part.
(3) If a holder of property presumed abandoned is a successor to another person that previously held the property for the apparent owner or the holder has changed its name while holding the property, the holder shall file with the report its former names, if any, and the known names and addresses of all previous holders of the property.
(4) The report must be filed before November 1 of each year and cover the 12 months next preceding July 1 of that year, but a report with respect to a life insurance company must be filed before May 1 of each year for the calendar year next preceding.
(5) The holder of property that is presumed abandoned shall send written notice to the apparent owner, not more than 120 days or less than 60 days before filing the report, stating that the holder is in possession of property subject to this part if:
(a) the holder has in its records an address for the apparent owner that the holder's records do not disclose to be inaccurate;
(b) the claim of the apparent owner is not barred by a statute of limitations; and
(c) the value of the property is $50 or more.
(6) Before the date for filing the report, the holder of property presumed abandoned may request the administrator to extend the time for filing the report. The administrator may grant the extension for good cause. The holder, upon receipt of the extension, may make an interim payment on the amount the holder estimates will ultimately be due, which terminates the accrual of additional interest on the amount paid.
(7) The holder of property presumed abandoned shall file with the report an affidavit stating that the holder has complied with subsection (5).
History: En. Sec. 8, Ch. 124, L. 1997.
Structure Montana Code Annotated
Chapter 9. Disposition of Unclaimed Property
Part 8. Uniform Unclaimed Property Act
70-9-803. Presumptions of abandonment
70-9-804. Contents of safe deposit box or other safekeeping depository
70-9-805. Rules for taking custody
70-9-807. Burden of proof as to property evidenced by record of check or draft
70-9-808. Report of abandoned property
70-9-809. Payment or delivery of abandoned property
70-9-810. Notice and publication of lists of abandoned property
70-9-811. Custody by state -- recovery by holder -- defense of holder
70-9-812. Public sale of abandoned property
70-9-814. Claim of another state to recover property
70-9-815. Filing claim with administrator -- handling of claims by administrator
70-9-816. Action to establish claim
70-9-817. Election to take payment or delivery
70-9-819. Periods of limitation
70-9-820. Requests for reports and examination of records
70-9-821. Retention of records
70-9-823. Interstate agreements and cooperation -- joint and reciprocal actions with other states
70-9-824. Interest and penalties
70-9-825. Agreement to locate property
70-9-826. Foreign transactions