§ 66-29-120 — Custody of property presumed abandoned if transaction took place in this state

Except as otherwise provided in §§ 66-29-117 - 66-29-119, the treasurer may take custody of property presumed abandoned, whether located in this or another state, if: (1) The transaction involving the property occurred in this state; (2) The holder is domiciled in a state that does not provide for the custodial taking of the property; provided, that if the property is specifically exempt from custodial taking under the law of the state of the holder's domicile, the property is not subject to the custody of the treasurer; and (3) The last known address of the apparent owner or other person entitled to the property is unknown or in a state that does not provide for the custodial taking of the property; provided, that if the property is specifically exempt from custodial taking under the law of the state in which the last known address is located, the property is not subject to the custody of the treasurer.

Legislative History

Amended by 2017 Tenn. Acts, ch. 457,s 1, eff. 7/1/2017. Acts 1978, ch. 561, § 20; 1979, ch. 226, § 22; T.C.A., § 64-2920.