2021 Wisconsin Statutes & Annotations
Chapter 177 - Uniform unclaimed property act.
177.0604 - Effect of payment or delivery of property to administrator.
177.0604 Effect of payment or delivery of property to administrator.
(1) On payment or delivery of property to the administrator under this chapter, the administrator, as agent for the state, assumes custody and responsibility for safekeeping the property. A holder that pays or delivers property to the administrator in good faith and substantially complies with ss. 177.0501 and 177.0502 is relieved of liability arising thereafter with respect to payment or delivery of the property to the administrator.
(2) This state shall defend and indemnify a holder against liability on a claim against the holder resulting from the payment or delivery of property to the administrator made in good faith and after the holder substantially complied with ss. 177.0501 and 177.0502.
History: 2021 a. 87.
