44-325 - Arizona Statutes

44-325. Interstate agreements and cooperation; joint and reciprocal actions with other states A. The department may enter into an agreement with another state to exchange information relating to abandoned property or the possible existence of abandoned property. The agreement may allow the other state or another person acting on behalf of a state to examine records as authorized in section 44-322. The department by rule may require the reporting of information that is necessary to comply with an agreement made pursuant to this section, and the department may prescribe the form. B. The department may join with another state to seek enforcement of this chapter against any person who is or may be holding property that is reportable pursuant to this chapter. C. At the request of another state, the attorney general of this state may maintain an action on behalf of the other state to enforce in this state the unclaimed property laws of the other state against a holder of property that is subject to escheat or a claim of abandonment by the other state, if the other state agrees to pay all costs incurred by the attorney general in maintaining the action. D. The department may request that the attorney general of another state or another attorney begin an action in the other state on behalf of the department. The department shall pay all costs, including attorney fees, in maintaining an action pursuant to this subsection. The department may pay the costs and attorney fees from monies received pursuant to this chapter. The department may agree to pay costs and attorney fees that are based in whole or in part on a percentage of the value of any property that the department recovers in the action. The department shall not deduct any costs or attorney fees paid pursuant to this section from the amount that is subject to the claim by the owner pursuant to this chapter.