447.537. Owner of property in another state and holder subject to that state's jurisdiction, effect. - Missouri Statutes

Owner of property in another state and holder subject to that state'sjurisdiction, effect.

447.537. If specific property which is subject to theprovisions of sections 447.505, 447.520, 447.527, 447.530 and447.535 is held for or owed or distributable to an owner whoselast known address is in another state by a holder who is subjectto the jurisdiction of that state, the specific property is notpresumed abandoned in this state and subject to sections 447.500to 447.595 if:

(1) It may be claimed as abandoned or escheated under thelaws of such other state; and

(2) The laws of such other state make reciprocal provisionthat similar specific property is not presumed abandoned orescheatable by such other state when held for or owed ordistributable to an owner whose last known address is within thisstate by a holder who is subject to the jurisdiction of thisstate; provided, however, such other state shall only enforce itsclaim by trial de novo in the appropriate court in Missouri.

(L. 1984 H.B. 1088 § 10, A.L. 1994 S.B. 757)

Effective 7-1-94