Tennessee § 66-29-133 Dormancy charge

Tennessee Statutes

§ 66-29-133 — Dormancy charge

Tennessee § 66-29-133

Title66

This text of Tennessee § 66-29-133 (Dormancy charge) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 66-29-133 (2026).

Text

(a)A holder may deduct a dormancy charge from property required to be paid or delivered to the treasurer if:

(1)A valid and enforceable contract between a holder and an apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a specified time; and (2) The holder regularly imposes the charge and does not regularly reverse or otherwise cancel the charge.

(b)The amount of the deduction under subsection (a) is limited to an amount that is not unconscionable considering all relevant factors, including the marginal transactional costs incurred by the holder in maintaining the apparent owner's property and any services received by the apparent owner.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A holder may deduct a dormancy charge from property required to be paid or delivered to the treasurer if: (1) A valid and enforceable contract between a holder and an apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a specified time; and (2) The holder regularly imposes the charge and does not regularly reverse or otherwise cancel the charge. (b) The amount of the deduction under subsection (a) is limited to an amount that is not unconscionable considering all relevant factors, including the marginal transactional costs incurred by the holder in maintaining the apparent owner's property and any services received by the apparent owner.