31-6-115 - Proceedings in other states. - Tennessee Statutes

31-6-115. Proceedings in other states.

(a)  In any case where it appears to the treasurer that property that is not subject to the jurisdiction of courts of this state has escheated to this state under this chapter and the other state provides a remedy to this state for the establishment of the rights of this state to such property, and it further appears to the treasurer that the value of the property justifies asserting the claim of this state, the treasurer shall request the attorney general and the attorney general and reporter shall take such action as he deems appropriate to assert the claim and protect the interest of this state.

(b)  This state may pay all reasonable costs incurred by any other state in any action brought by the other state at the request of the attorney general and reporter of this state under this section. Any state bringing such an action may be entitled additionally to a reward of up to fifteen percent (15%) of the value, after deducting reasonable costs, of any property recovered for this state as a direct or indirect result of the action.

[Acts 1979, ch. 226, § 15; T.C.A., § 31-815.]