There is a newer version of the Idaho Code and Statutes
2005 Idaho Code - 14-523 — DISPOSITION OF MONEY RECEIVED
TITLE 14 ESTATES OF DECEDENTS CHAPTER 5 UNCLAIMED PROPERTY LAW 14-523. DISPOSITION OF MONEY RECEIVED. (1) All money received under this chapter, including the proceeds from the sale of property under section 14-522, Idaho Code, shall be deposited in the unclaimed property account. (2) All money in the unclaimed property account is hereby continuously appropriated to the state tax commission, without regard to fiscal years, for expenditure in accordance with law in carrying out and enforcing the provisions of this chapter, including, but not limited to, the following purposes: (a) For payment of claims allowed by the state tax commission under the provisions of this chapter. (b) For refund, to the person making such deposit of amounts, including overpayments, deposited in error in such account. (c) For payment of the cost of appraisals incurred by the state tax commission covering property held in the name of the account. (d) For payment of the cost incurred by the state tax commission for the purchase of lost instrument indemnity bonds, or for payment to the person entitled thereto, for any unpaid lawful charges or costs which arose from holding any specific property or any specific funds which were delivered or paid to the state tax commission, or which arose from complying with this chapter with respect to such property or funds. (e) For payment of amounts required to be paid by the state as trustee, bailee, or successor in interest to the preceding owner. (f) For payment of costs of official advertising in connection with the sale of property held in the name of the account. (g) For transfer to the general account as provided in subsection (3) of this section. (h) For transfer to the inheritance tax account of the amount of any inheritance taxes determined to be due and payable to the state by any claimant with respect to any property claimed by him under the provisions of this chapter. (3) At the end of each month, or more often, if it deems it advisable, the state tax commission shall transfer all money in the unclaimed property account in excess of two hundred fifty thousand dollars ($250,000) to the general account. Within sixty (60) days of making this transfer, it shall record the name and last known address, if available, of each person appearing from the holder's report to be entitled to the property. The record shall be available for public inspection at all reasonable business hours. (4) All money received under this chapter, including the proceeds from the sale of property under section 14-522, Idaho Code, deposited in the general account shall be retained by the state of Idaho for the purposes of this section and administered pursuant to this section for a period of ten (10) years. At the end of such period, those moneys which have not been claimed and paid over or delivered as an allowed claim under this section and section 14-524, Idaho Code, shall become due and payable by escheat to the state of Idaho and become the property of the state of Idaho without further action on the part of the administrator.
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