2009 Alabama Code
Title 35 — PROPERTY.
Chapter 12 — LOST OR UNCLAIMED PROPERTY.
Section 35-12-86 Election to take payment or delivery.
Section 35-12-86Election to take payment or delivery.
(a) The Treasurer may decline to receive property reported under this article which the Treasurer considers to have a value less than the expenses of notice and sale.
(b) A holder, with the written consent of the Treasurer and upon conditions and terms prescribed by the Treasurer, may report and deliver property before the property is presumed abandoned. A holder exempt from reporting, upon conditions and terms prescribed by the Treasurer, may voluntarily report. Property so delivered must be held by the Treasurer and is not presumed abandoned until it otherwise would be presumed abandoned under this article.
(Act 2004-440, p. 755, §1.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
