67-4a-207 - Refunds and payments resulting from judicial or administrative proceedings. - Utah Statutes

67-4a-207. Refunds and payments resulting from judicial or administrativeproceedings.
(1) The sum to be paid as a refund, under an order or decision of a court or administrativeagency or by agreement, that remains outstanding for more than one year after it became payableis considered abandoned unless the apparent owner has communicated in writing with the holderconcerning that sum within the preceding six months.
(2) Any sum payable or intangible property distributable in the course of a voluntary orinvoluntary dissolution or liquidation that remains unclaimed for one year after the date of thefinal distribution or liquidation is considered abandoned unless the apparent owner hascommunicated in writing with the holder concerning that sum or distribution within the precedingsix months.
(3) Intangible property payable or distributable to a member of or participant in a classaction that remains unclaimed for more than one year after the time for the final payment ordistribution is considered abandoned, unless the apparent owner has communicated in writingwith the holder concerning the property within the preceding six months.
(4) Intangible property payable or distributable as the result of litigation or settlement of adispute before a judicial or administrative body that remains unclaimed for more than one yearafter the time for the final payment or distribution is considered abandoned unless the apparentowner has communicated in writing concerning the property within the preceding six months.

Enacted by Chapter 198, 1995 General Session