Section 35-12-86 Election to take payment or delivery. - Alabama Statutes

Section 35-12-86

Election 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.)