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KANSAS STATUTES AND CODES
58-3960. Election to take property or delivery.
58-3960
58-3960. Election to take property or delivery.(a) The administrator may decline to receive any property reportedunder this act which is considered to have a value less than theexpense of giving notice and of sale. If the administrator elects notto receive custody of the property, the holder shall be notifiedwithin 120 days after filing the report required under K.S.A. 58-3950 andamendments thereto.
(b) A holder, with the written consent of the administrator and uponconditions and terms prescribed by the administrator, may report and deliverproperty before the property is presumed abandoned. Property deliveredunder this subsection shall be held by the administrator and is notpresumed abandoned until such time as it otherwise would be presumedabandoned under this act.
History: L. 1994, ch. 8, § 27; March 3.