Idaho § 14-5-1204 INTEREST AND PENALTY FOR FAILURE TO ACT IN TIMELY MANNER

Idaho Statutes

§ 14-5-1204 — INTEREST AND PENALTY FOR FAILURE TO ACT IN TIMELY MANNER

Idaho·Title 14 ESTATES OF DECEDENTS·Part 12 ENFORCEMENT BY ADMINISTRATOR·Ch. 5 REVISED UNCLAIMED PROPERTY ACT

(1)A holder that fails to report, pay, or deliver property within the time prescribed by this chapter shall pay to the administrator interest at an annual rate of twelve percent (12%) on the property or value of the property from the date the property should have been reported, paid, or delivered to the administrator until the date reported, paid, or delivered.

(2)Except as otherwise provided in section 14-5-1205 or 14-5-1206, Idaho Code, the administrator may require a holder that fails to report, pay, or deliver property within the time prescribed by this chapter to pay to the administrator, in addition to interest included under subsection (1) of this section, a civil penalty of two hundred dollars ($200) for each day the duty is not performed, up to a cumulative maximum amount of fiv

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(1) A holder that fails to report, pay, or deliver property within the time prescribed by this chapter shall pay to the administrator interest at an annual rate of twelve percent (12%) on the property or value of the property from the date the property should have been reported, paid, or delivered to the administrator until the date reported, paid, or delivered.
(2) Except as otherwise provided in section 14-5-1205 or 14-5-1206, Idaho Code, the administrator may require a holder that fails to report, pay, or deliver property within the time prescribed by this chapter to pay to the administrator, in addition to interest included under subsection (1) of this section, a civil penalty of two hundred dollars ($200) for each day the duty is not performed, up to a cumulative maximum amount of five thousand dollars ($5,000).

Idaho § 14-5-1204 (INTEREST AND PENALTY FOR FAILURE TO ACT IN TIMELY MANNER) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.