§ 34-24-101 — Short title; policy statement; uniform construction

Wyoming § 34-24-101

• Jurisdiction: Wyoming
• Title 34: Property, Conveyances and Security Transactions
• Ch. 24: UNIFORM UNCLAIMED PROPERTY ACT

Text

(a) This act may be cited as the "Uniform Unclaimed
Property Act."
(b) Property shall be deemed to be "abandoned" or
"unclaimed" when:
(i) It is held, issued or owing by a holder;
(ii) The identity, status or present location of the
apparent owner is unknown; and
(iii) The property cannot be paid, distributed or
given to the apparent owner after the dormancy period stated for
the type of unclaimed property in this act.
(c) Property shall not be deemed to be "abandoned" or
"unclaimed" while the character or degree of ownership interest
of the apparent owner in the property is unsettled or disputed
and the holder is notified of this fact.
(d) All unclaimed property shall be placed in the custody
of the administrator, subject to the perpetual right of the
party originally owning or being entitled to the property to
reclaim it upon proper proof of ownership and identity. Except
for escrow agreements pursuant to W.S. 30-5-302, any provision,
contract, agreement, practice, resolution, ordinance, decision,
order or understanding, shall be void as contrary to this public
policy, if the purpose of that provision is to avoid or
contradict the custodial taking of unclaimed property by the
administrator.
(e) This act shall be liberally construed in favor of the
state and so as to foster the report and turnover of unclaimed
property to the administrator.