A. An initial report filed pursuant to this chapter for property that was not required to be reported before January 1, 2001 but that is subject to this chapter shall include all items of property that would have been presumed abandoned within ten years before January 1, 2001 as if this chapter had been in effect during that period.

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Terms Used In Arizona Laws 44-329

  • 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
  • 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

B. This chapter does not relieve a holder of a duty that arose before January 1, 2001 to report, pay or deliver property. Except as provided in section 44-321, subsection C, a holder who did not comply with the law in effect before January 1, 2001 is subject to the applicable provisions for enforcement and penalties that were in effect under the prior law.

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