89-12-15 - Presumed abandonment of intangible personal property held in ordinary course of holder's business. - Mississippi Statutes

§ 89-12-15. Presumed abandonment of intangible personal property held in ordinary course of holder's business.
 

All intangible personal property not otherwise covered by the provisions of this chapter, including any income or increment thereon and deducting any charges that may have accrued, that is held in the ordinary course of the holder's business and has remained unclaimed by the owner for more than five (5) years after it became payable or distributable shall be presumed abandoned. 
 

Sources: Laws,  1982, ch. 497, § 8; Laws, 1991, ch. 451, § 8, eff from and after July 1, 1991.