§ 34-24-102 — Definitions

Wyoming § 34-24-102

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

Text

(a) As used in this act:
(i) "Administrator" means the state treasurer;
(ii) "Apparent owner" means the person whose name
appears on the records of the holder as the person entitled to
property held, issued or owing by the holder;
(iii) "Attorney general" means the chief legal
officer of this state;
(iv) "Banking organization" means a bank, trust
company, savings bank, private banker or any organization
defined by other law as a bank or banking organization;
(v) "Business association" means a nonpublic
corporation, joint stock company, investment company, business
trust, partnership or association for business purposes of two
(2) or more individuals, whether or not for profit, including a
banking organization, financial organization, insurance company
or utility;
(vi) "Domicile" means the state of incorporation of a
corporation and the state of the principal place of business of
an unincorporated person;
(vii) "Financial organization" means a savings and
loan association, building and loan association or credit union;
(viii) "Holder" means a person, wherever organized or
domiciled, who is:
(A) In possession of property belonging to
another;
(B) A trustee; or
(C) Indebted to another on an obligation.
(ix) "Insurance company" means an association,
corporation, fraternal or mutual benefit organization, whether
or not for profit, which is engaged in providing insurance
coverage, including but not limited to accident, burial,
casualty, credit life, contract performance, dental, fidelity,
fire, health, hospitalization, illness, life (including
endowments and annuities), malpractice, marine, mortgage, surety
and wage protection insurance;
(x) "Intangible property" includes:
(A) Monies, checks, drafts, deposits, interest,
dividends and income;
(B) Credit balances, customer overpayments, gift
certificates, merchant stored value cards, security deposits,
refunds, credit memos, unpaid wages, unused airline tickets and
unidentified remittances except balances represented on debit
cards;
(C) Stocks and other intangible ownership
interests in business associations except patronage capital of
Wyoming rural electric cooperatives;
(D) Monies deposited to redeem stocks, bonds,
coupons and other securities or to make distributions;
(E) Bonds, notes and any other debt obligations;
(F) Amounts due and payable under the terms of
insurance policies;
(G) Amounts distributable from a trust or
custodial fund established under a plan to provide health,
welfare, pension, vacation, severance, retirement, death, stock
purchase, profit sharing, employee savings, supplemental
unemployment insurance or similar benefits; and
(H) Amounts distributable from a mineral
interest in land.
(xi) "Last known address" means a description of the
location of the apparent owner sufficient for the purpose of the
delivery of mail;
(xii) "Mineral" means oil, gas, uranium, sulfur,
lignite, coal and any other substance that is ordinarily and
naturally considered a mineral, regardless of the depth at which
the oil, gas, uranium, sulfur, lignite, coal or other substance
is found;
(xiii) "Mineral proceeds" includes:
(A) All obligations to pay resulting from the
production and sale of minerals, including net revenue interest,
royalties, overriding royalties, production payments and joint
operating agreements; and
(B) All obligations for the acquisition and
retention of a mineral lease, including bonuses, delay rentals,
shut-in royalties and minimum royalties.
(xiv) "Owner" means a depositor in the case of a
deposit, a beneficiary in case of a trust other than a deposit
in trust, a creditor, claimant or payee in the case of other
intangible property or a person or that person's legal
representative having a legal or equitable interest in property
subject to this act;
(xv) "Person" means an individual, business
association, state or other government (including any
governmental subdivision, agency, entity, officer or appointee
thereof) public corporation, public authority, estate, trust,
two (2) or more persons having a joint or common interest or any
other legal or commercial entity;
(xvi) "State" means any state, district,
commonwealth, territory, insular possession or any other area
subject to the legislative authority of the United States;
(xvii) "Utility" means a person who owns or operates
for public use any plant, equipment, property, franchise or
license for the transmission of communications, including cable
television or the production, storage, transmission, sale,
delivery or furnishing of electricity, water, steam or gas;
(xviii) "Merchant stored value card" means an
electronic promise that is:
(A) Redeemable at a single merchant or an
affiliated group of merchants that share the same name, mark or
logo;
(B) Issued in a specified amount, whether or not
that amount may be increased in value or reloaded at the request
of the owner of the card;
(C) Purchased on a prepaid basis in exchange for
payment;
(D) Upon presentation, honored by a single
merchant or affiliated group of merchants for goods or services;
and
(E) Not:
(I) Distributed under an awards, rewards,
loyalty, incentive, rebate or promotional program; or
(II) Sold below face value or donated to an
employee, nonprofit organization or an education institution for
fund raising.
(xix) "This act" means W.S. 34-24-101 through