§ 66-29-119 — Custody of property presumed abandoned if holder domiciled in state

(a) Except as otherwise provided in subsection (b), § 66-29-117 , or § 66-29-118 , the treasurer may take custody of property presumed abandoned, whether located in this state, another state, or a foreign country, if the holder is domiciled in this state, or is the state or a governmental subdivision, agency, or instrumentality of this state, and: (1) Another state or foreign country is not entitled to the property because there is no last known address of the apparent owner or other person entitled to the property in the records of the holder; or (2) The state or foreign country in which the last known address of the apparent owner or other person entitled to the property is located does not provide for custodial taking of the property. (b) The property is not subject to the custody of the treasurer under subsection (a) if: (1) The property is specifically exempt from custodial taking under the law of the state or foreign country in which the last known address of the apparent owner or other person entitled to the property is located; or (2) The property is specifically exempt from custodial taking under the law of this state. (c) For the purposes of this section, if the holder's state of domicile has changed since the time the property was presumed abandoned, the holder's state of domicile is deemed to be the state where the holder was domiciled at the time the property was presumed abandoned.

Legislative History

Amended by 2017 Tenn. Acts, ch. 457,s 1, eff. 7/1/2017. Acts 1978, ch. 561, § 19; 1979, ch. 226, § 22; 1980, ch. 448, § 2; T.C.A., § 64-2919; Acts 1986, ch. 539, § 19; 1993, ch. 195, § 18; 2003, ch. 101, § 1.