Section 35-12-32

Notice to be published and mailed by Treasurer.

(a) Within 120 days from the filing of the reports and delivery of the property as required by Section 35-12-31, the Treasurer shall mail notice regarding the subject property to each person whose name and address appears on the report of the property delivered to the Treasurer. As close as is practicable within the Treasurer's discretion to the date on which the Treasurer mails the notices, the Treasurer shall also cause notice regarding the subject property to be published at the time and in the manner and place determined by the Treasurer in his or her discretion to provide actual notice to potential owners of property. Other than as provided in this section, the mailed and published notices shall be of a form and content which in the Treasurer's discretion is likely to provide actual notice to potential owners of such property.

(b) The mailed notice shall contain:

(1) A statement that the Treasurer is holding property to which the addressee appears entitled.

(2) A statement that, if satisfactory proof of claim is not presented by the owner to the Treasurer by the date specified in the published notice, the property may, at the discretion of the Treasurer, be disposed of by the Treasurer as provided by this article.

(c) The published notice shall be entitled "notice of names of persons appearing to be owners of abandoned property," and shall contain:

(1) The names in alphabetical order and last known addresses, if any, of persons listed in the report and entitled to notice as hereinbefore specified.

(2) A statement that information concerning the amount or description of the property and the name and address of the holder may be obtained by any person possessing an interest in the property by addressing a written inquiry to the Treasurer. The written inquiry shall contain a statement of the nature of the interest in the property claimed by the person requesting the information.

(3) A statement that, if a completed claim is not presented by the owner to the Treasurer within one year from the date on which notice is published pursuant to this section, the Treasurer may at his or her discretion dispose of the property pursuant to this article.

(d) The Treasurer is not required to publish in the notice any item which in the Treasurer's opinion is of a value less than fifty dollars ($50) unless the Treasurer deems the publication to be in the public interest. The Treasurer is not required to obtain an appraisal of the property to determine value under this section.

(e) In addition to the methods provided above, the Treasurer may use any other method of providing notice or further information to potential owners of abandoned property if the Treasurer determines that the other method would be likely to provide notice to potential owners of abandoned property.

(f) This section is not applicable to sums payable on traveler's checks or money orders presumed abandoned under Section 35-12-22.

(Acts 1971, No. 63, p. 101, §12; Acts 1973, No. 1084, p. 1844, §3; Acts 1996, No. 96-724, p. 1197, §1.)