58-3970. Effect of new provisions; clarification of application. - Kansas Statutes

58-3970

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 39.--DISPOSITION OF UNCLAIMED PROPERTY ACT

      58-3970.   Effect of new provisions; clarification of application.(a) This act does not relieve a holder of a duty that arosebefore theeffective date of this act to report, pay or deliver property. Aholder who did not comply with the law in effect before the effectivedate of this act is subject to the applicable enforcement and penaltyprovisions that then existed and they are continued in effect for thepurpose of this subsection, subject to subsection (b) of K.S.A. 58-3962 andamendments thereto.

      (b)   The initial report filed under this act for property that was notrequired to be reported before the effective date of this act but issubject to this act shall include all items of property that would havebeen presumed abandoned during the ten-year period preceding theeffective date of this act as if this act had been in effect duringthat period.

      History:   L. 1994, ch. 8, § 37; March 3.