2010 Tennessee Code
Title 66 - Property
Chapter 29 - Abandoned or Unclaimed Property
Part 1 - Uniform Disposition of Unclaimed (Personal) Property Act
66-29-113 - Report of abandoned property.

66-29-113. Report of abandoned property.

(a)  Every person holding funds or other property, tangible or intangible, presumed abandoned under this part shall report to the treasurer with respect to the property as provided in this section.

(b)  The report shall be verified and shall include:

     (1)  Except with respect to traveler's checks and money orders, the name, if known, and last known address, if any, of each person appearing from the records of the holder to be the owner of any property of the value of fifty dollars ($50.00) or more presumed abandoned under this part;

     (2)  In case of unclaimed funds of a life insurance corporation, the full name of the insured or annuitant and that person's last known address according to the life insurance corporation's records;

     (3)  The nature and identifying number, if any, or description of the property and the amount appearing from the records to be due, except that items of value under fifty dollars ($50.00) each may be reported in aggregate;

     (4)  Except for property reported in the aggregate, the date when the property became payable, demandable, or returnable, and the date of the last transaction with the owner with respect to the property; and

     (5)  Other information which the treasurer prescribes by rule as necessary for the administration of this part.

(c)  (1)  Notwithstanding any provision of this part to the contrary, holders shall report to the treasurer the following types of property separately from any other type of property reportable under this part:

          (A)  Contents removed from any safe deposit box or any other safekeeping repository or agency or collateral deposit box described in § 66-29-104(4)(B); and

          (B)  If required by rule and regulation promulgated pursuant to § 66-29-115(d), securities or security entitlements under title 47, chapter 8.

     (2)  The treasurer may create separate and distinct unclaimed property report forms for the reporting of such property. The report forms shall elicit such information as the treasurer deems appropriate.

(d)  If the person holding property presumed abandoned is a successor to other persons who previously held the property for the owner, or if the holder had a change of name while holding the property, that person shall file with the report all prior known names and addresses of each holder of the property.

(e)  The report shall be filed before May 1 of each year, reporting property held as of the previous December 31. The treasurer may postpone the reporting date upon written request by any person required to file a report.

(f)  Not more than one hundred twenty (120) days or less than sixty (60) days before filing the report required by this section, the holder in possession of property presumed abandoned and subject to custody as unclaimed property under this part shall send written notice to the apparent owner at such person's last known address, informing such person that the holder is in possession of property subject to this part, if the holder has in its records an address for the apparent owner which the holder's records do not disclose to be inaccurate and the property has a value of fifty dollars ($50.00) or more. The holder shall exercise due diligence to ascertain the whereabouts of the owner. The treasurer shall promulgate rules and regulations to clarify the provisions of this subsection (f) with respect to the duties of holders.

(g)  Verification, if made by a partnership, shall be executed by a partner; if made by an unincorporated association or private corporation, by an officer; and if made by a public corporation, by its chief fiscal officer. The holder of property presumed abandoned shall file with the report an affidavit stating that the holder has complied with subsection (f).

(h)  The treasurer shall keep a record of all final reports submitted to such treasurer.

(i)  Every holder required to file a report under this section as to any property for which it has obtained the last known address of the owner shall maintain a record of the name and last known address of the owner for ten (10) years after the property becomes reportable.

[Acts 1978, ch. 561, § 13; T.C.A., § 64-2913; Acts 1984, ch. 544, § 10; 1991, ch. 194, § 2; 1993, ch. 195, §§ 11, 12; 2001, ch. 157, §§ 1-3; 2001, ch. 231, §§ 2, 3.]