Utah § 67-4a-602 Dormancy charge.

Utah Statutes

§ 67-4a-602 — Dormancy charge.

Utah § 67-4a-602

Title 67State Officers and Employees

Ch. 67-4aRevised Uniform Unclaimed Property Act

Part 67-4a-6Taking Custody of Property by Administrator

This text of Utah § 67-4a-602 (Dormancy charge.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 67-4a-602 (2026).

Text

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

(1)(a) a valid contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a specified time; and

(1)(b) the holder regularly imposes the charge and regularly does not reverse or otherwise cancel the charge.

(2)The amount of the deduction under Subsection (1) is limited to an amount that is not unconscionable considering all relevant factors, including:

(2)(a) the marginal transactional costs incurred by the holder in maintaining the apparent owner's property; and

(2)(b) any services received by the apparent owner.

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

(1)(a) a valid contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a specified time; and
(1)(b) the holder regularly imposes the charge and regularly does not reverse or otherwise cancel the charge.
(2) The amount of the deduction under Subsection (1) is limited to an amount that is not unconscionable considering all relevant factors, including:

(2)(a) the marginal transactional costs incurred by the holder in maintaining the apparent owner's property; and
(2)(b) any services received by the apparent owner.