43-41B-20. Payment or delivery of abandoned property.
(a) Except as otherwise provided in subsections (b) and (c) of this section, a person who is required to file a report under this chapter shall, at the same time as the final date for filing the report as required, pay or deliver to the administrator all abandoned property required to be reported.
(b) If the owner establishes the right to receive the abandoned property to the satisfaction of the holder before the property has been delivered or it appears that for some other reason the presumption of abandonment is erroneous, the holder need not pay or deliver the property to the administrator, and the property will no longer be presumed abandoned. In that case, the holder shall file with the administrator a verified written explanation of the proof of claim or of the error in the presumption of abandonment.
(c) Property reported under §43-41B-18 for which the holder is not required to report the name of the apparent owner must be delivered to the administrator at the time of filing the report.
(d) The holder of any interest shall deliver a duplicate certificate or other evidence of ownership to the administrator, the holder and any transfer agent, registrar or other person acting for or on behalf of a holder in executing or delivering the duplicate certificate is relieved of all liability of every kind in accordance with the provisions of this chapter to every person, including any person acquiring the original certificate or the duplicate of the certificate or the duplicate of the certificate issued to the department, for any losses or damages resulting to the person by the issuance and delivery to the department of the duplicate certificate.
Source: SL 1992, ch 312, §19.
Structure South Dakota Codified Laws
Chapter 41B - Uniform Unclaimed Property Act
Section 43-41B-1 - Definitions and use of terms.
Section 43-41B-2 - Property presumed abandoned--General rule.
Section 43-41B-3 - General rules for taking custody of intangible unclaimed property.
Section 43-41B-4 - Travelers checks and money orders.
Section 43-41B-6 - Bank deposits and funds in financial organizations.
Section 43-41B-7 - Funds owing under life insurance.
Section 43-41B-8 - Deposits held by utilities.
Section 43-41B-9 - Refunds held by business associations.
Section 43-41B-10 - Stock and other intangible interests in business associations.
Section 43-41B-11 - Property of business associations held in course of dissolution.
Section 43-41B-13 - Property held by agents and fiduciaries.
Section 43-41B-14 - Property held by courts and public agencies.
Section 43-41B-15 - Gift certificates and credit memos.
Section 43-41B-18 - Report of abandoned property.
Section 43-41B-20 - Payment or delivery of abandoned property.
Section 43-41B-22 - Crediting of dividends, interest, or increments to owner's account .
Section 43-41B-23 - Public sale of abandoned property.
Section 43-41B-23.1 - Sale of securities, stocks, bonds, and other intangible ownership interests.
Section 43-41B-24 - Deposit of funds.
Section 43-41B-24.1 - Continuous appropriation of fund--Report--Approval of certain expenditures.
Section 43-41B-25 - Filing claim with administrator--Handling of claims by administrator.
Section 43-41B-26 - Claim of another state to recover property--Procedure.
Section 43-41B-27 - Action to establish claim.
Section 43-41B-28 - Election to take payment or delivery.
Section 43-41B-30 - Period of limitation.
Section 43-41B-31 - Requests for reports and examination of records.
Section 43-41B-32 - Retention of records.
Section 43-41B-33 - Enforcement.
Section 43-41B-35 - Interest on untimely payments.
Section 43-41B-36 - Agreements to locate reported property.
Section 43-41B-37 - Effect of new provisions--Clarification of application.
Section 43-41B-40 - Open-loop prepaid cards exempt.
Section 43-41B-41 - Rewards cards exempt.
Section 43-41B-43 - Certain gift certificates and closed-loop prepaid cards exempt.