447.533. Interest, dividends or their earnings deemed unclaimed property, when. - Missouri Statutes

Interest, dividends or their earnings deemed unclaimed property,when.

447.533. 1. All intangible property, including but not limited toany interest, dividend, or other earnings thereon that would be due had theowner not abandoned the account, less any lawful charges, held by abusiness association, federal, state or local government or governmentalsubdivision, agency or entity, or any other person or entity, regardless ofwhere the holder may be found, if the owner has not claimed or correspondedin writing concerning the property within seven years or five years asprovided in section 447.536 after the date prescribed for payment ordelivery, is presumed abandoned and subject to the custody of this state asunclaimed property if:

(1) The last 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 state, or isincorporated, organized, created or otherwise located in this state.

2. The provisions of subsection 1 of this section shall not apply toproperty which is or may be presumed abandoned and subject to the custodyof this state pursuant to any other provision of law containing a dormancyperiod different than that prescribed in subsection 1 of this section.

3. The provisions of subsection 1 of this section shall apply to allproperty held as of August 28, 1990, or at any time thereafter, regardlessof when such property became or becomes presumptively abandoned.

4. The provisions of subsection 1 of this section shall not apply toany property held in this state where the holder is a banking organizationor financial organization which has a principal place of business in thisstate.

(L. 1990 H.B. 1052, A.L. 1992 S.B. 661 & 620, A.L. 1998 H.B. 1510)