Section 38-13-205 - When contents of safe-deposit box presumed abandoned

(1) Tangible property held in a safe-deposit box and proceeds from a sale of the property by the holder permitted by law of this state other than this article 13 are presumed abandoned if the property remains unclaimed by the apparent owner five years after the earlier of the: (a) Expiration of the lease or rental period for the box; or(b) Earliest date when the lessor of the box is authorized by law of this state other than this article 13 to enter the box and remove or dispose of the contents without consent or authorization of the lessee.Entire article repealed and reenacted with amendments by 2019 Ch. 110, § 1, eff. 7/1/2020.L. 2019: Entire article R&RE, (SB 19 -088), ch. 418, p. 418, § 1, effective 7/1/2020.