447.517. Utilities, funds held or owing presumed abandoned, when. - Missouri Statutes

Utilities, funds held or owing presumed abandoned, when.

447.517. 1. The following funds held or owing by any utility arepresumed abandoned:

(1) Any deposit made by a subscriber with a utility to secure paymentfor, or any sum paid in advance for, utility services to be furnished inthis state, less any lawful deductions, that has remained unclaimed by theperson appearing on the records of the utility entitled thereto for morethan seven years or five years as provided in section 447.536 after thetermination of the services for which the deposit or advance payment wasmade;

(2) Any sum which a utility has been ordered to refund and which wasreceived for utility services rendered in this state, together with anyinterest thereon, less any lawful deductions, that has remained unclaimedby the person appearing on the records of the utility entitled thereto formore than seven years or five years as provided in section 447.536 afterthe date it became payable in accordance with the final determination ororder providing for the refund.

2. For purposes of corporations organized pursuant to chapter 274,RSMo, corporations organized pursuant to chapter 357, RSMo, corporationsorganized pursuant to chapter 394, RSMo, and electric service corporationsorganized pursuant to chapter 351, RSMo, which have received a loan orloans pursuant to the Rural Electrification Act of 1936, Title VII, U.S.Code as amended, sections 447.500 to 447.595 shall only apply to propertyand funds which become held or owing and for which the period of time whichmust expire before such property or funds are presumed abandoned has begunafter August 13, 1984.

(L. 1984 H.B. 1088 § 4, A.L. 1994 S.B. 757, A.L. 1998 H.B. 1510)