If the department determines after investigation that property delivered pursuant to this chapter has no substantial commercial value, the department may destroy or otherwise dispose of the property at any time. A person shall not maintain an action or proceeding against this state, the department or any officer of this state or against the holder for or on account of an act of the department pursuant to this section, except for intentional misconduct or malfeasance.

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Terms Used In Arizona Laws 44-320

  • Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
  • Department: means the department of revenue. See Arizona Laws 44-301
  • Holder: means a person who is obligated to hold for the account of or deliver or pay to the owner property that is subject to this chapter. See Arizona Laws 44-301
  • Person: means an individual, business association, financial organization, estate, trust, government, governmental subdivision, agency or instrumentality or any other legal or commercial entity. See Arizona Laws 44-301
  • Property: means tangible property pursuant to section 44-303 or a fixed and certain interest in intangible property that is held, issued or owed in the course of a holder's business or by a government, governmental subdivision, agency or instrumentality and all income or increments from that property. See Arizona Laws 44-301
  • State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico or any territory or insular possession that is subject to the jurisdiction of the United States. See Arizona Laws 44-301

 

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