KANSAS STATUTES AND CODES

58-3975. Application to certain intangible property originating or issued in Kansas.

58-3975

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

58-3975. Application to certain intangible property originating or issuedin Kansas.(a) Allintangible property, including but not limited to, any interest,dividend or other earnings thereon, less any lawful charges, held by abusiness association, federal, state or local government orgovernmental subdivision, agency or entity, or any other person orentity, regardless of where the holder may be found, if the owner hasnot claimed or corresponded in writing concerning the property withinthree years after the date prescribed for payment or delivery, ispresumed abandoned and subject to the custody of this state asunclaimed property if:

(1) The address of the owner is unknown; and

(2) the person or entity originating or issuing the intangibleproperty is this state or any political subdivision of this stateor is incorporated, organized, created or otherwise located inthis state.

(b) The provisions of subsection (a) shall not apply to propertywhich is or may be presumed abandoned and subject to the custody ofthis state pursuant to any other provision of law containing adormancy period different from that prescribed in subsection (a).

(c) The provisions of subsection (a) shall apply to all property heldat the time of enactment, or at any time thereafter, regardless ofwhen such property became or becomes presumptively abandoned.

History: L. 1994, ch. 8, § 42; March 3.