§ 33-21.1-2 - Property presumed abandoned. - Rhode Island Statutes

SECTION 33-21.1-2

   § 33-21.1-2  Property presumed abandoned.– (a) Except as otherwise provided by this chapter, all intangible property,including any income or increment derived from intangible property, less anylawful charges, that is held, issued, or owing in the ordinary course of aholder's business and has remained unclaimed by the owner for more than three(3) years after it became payable or distributable is presumed abandoned.

   (b) Property is payable or distributable for the purpose ofthis chapter notwithstanding the owner's failure to make demand or to presentany instrument or document required to receive payment.