§ 9:155 — Contents of safe deposit box or other safekeeping depository

Louisiana § 9:155

• Jurisdiction: Louisiana
• Title 9: Civil Code-Ancillaries

Text

§155. Contents of safe deposit box or other safekeeping depository
A. Intangible property held in a safe deposit box or other safekeeping depository in
this state in the ordinary course of the holder's business, and proceeds resulting from the sale
of the property permitted by other law, shall be presumed abandoned if it remains unclaimed
by the owner for more than five years after expiration of the lease or rental period on the box
or other depository.
B.(1) Military medals and all associated documents held in a safe deposit box or
other safekeeping depository in this state in the ordinary course of the holder's business shall
be presumed abandoned if it remains unclaimed by the owner for more than five years after
expiration of the lease or rental period on the box or other depository.
(2) Military medals and all associated documents presumed abandoned pursuant to
this Subsection shall be forwarded by the holder to the Louisiana Department of Treasury,
unclaimed property division.
(3) The Louisiana Department of Treasury, unclaimed property division, may enter
into an agreement with the Louisiana Department of Veterans Affairs whereby the
Department of Veterans Affairs may store and locate the appropriate owners for the return
of the abandoned military medals and all associated documents.

Legislative History

Acts 1986, No. 829, §1, eff. July 10, 1986; Acts 1997, No. 809, §1, eff. July 10, 1997; Acts 2019, No. 439, §1, eff. July 1, 2019.