Tennessee § 66-29-138 Treasurer's options as to custody

Tennessee Statutes

§ 66-29-138 — Treasurer's options as to custody

Tennessee § 66-29-138

Title66

This text of Tennessee § 66-29-138 (Treasurer's options as to custody) 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. § 66-29-138 (2026).

Text

(a)The treasurer may decline to take custody of property reported under § 66-29-123 if the treasurer determines that:

(1)The property has a value less than the estimated expenses of notice and sale of the property; or (2) Taking custody of the property would be unlawful.

(b)A holder may pay or deliver property to the treasurer before the property is presumed abandoned under this part if the holder:

(1)Sends the apparent owner of the property any notice required by § 66-29-128 and provides the treasurer evidence of the holder's compliance with this subdivision (b)(1);

(2)Includes with the payment or delivery a report regarding the property in accordance with § 66-29-124 ; and (3) First obtains the treasurer's consent in a record to accept payment or delivery.

(c)The holder must reques

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(a) The treasurer may decline to take custody of property reported under § 66-29-123 if the treasurer determines that: (1) The property has a value less than the estimated expenses of notice and sale of the property; or (2) Taking custody of the property would be unlawful. (b) A holder may pay or deliver property to the treasurer before the property is presumed abandoned under this part if the holder: (1) Sends the apparent owner of the property any notice required by § 66-29-128 and provides the treasurer evidence of the holder's compliance with this subdivision (b)(1); (2) Includes with the payment or delivery a report regarding the property in accordance with § 66-29-124 ; and (3) First obtains the treasurer's consent in a record to accept payment or delivery. (c) The holder must request the treasurer's consent under subdivision (b)(3) in a record. If the treasurer fails to respond to the request not later than thirty (30) calendar days after receipt of the request, the treasurer is deemed to consent to the payment or delivery of the property and the payment or delivery is considered to have been made in good faith. (d) Upon payment or delivery of the property under subsection (b), the property is presumed abandoned.