Section 35-12-33

Payment or delivery of abandoned property — Generally.

Every person who files a report pursuant to this article shall simultaneously, and in no event later than 20 days after the filing of the report, unless a written extension is obtained from the Treasurer, pay or deliver to the Treasurer all abandoned property specified in the report; except, that if it reasonably appears that the presumption of abandonment is erroneous, the holder need not pay or deliver the property, which will no longer be presumed abandoned, to the Treasurer, but in lieu thereof shall file with the Treasurer a verified written explanation of the proof of claim or of the error in the presumption of abandonment.

(Acts 1971, No. 63, p. 101, §13; Acts 1973, No. 1084, p. 1844, §4; Acts 1996, No. 96-724, p. 1197, §1.)