(a) Except as otherwise provided in § 66-29-113, a security is presumed abandoned three (3) years after:

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Terms Used In Tennessee Code 66-29-111

  • Apparent owner: means a person whose name appears on the records of a holder as the owner of property held, issued, or owing by the holder. See Tennessee Code 66-29-102
  • Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Tennessee Code 66-29-102
  • Electronic mail: means any communication of information by electronic means that is automatically retained and stored and may be readily accessed or retrieved. See Tennessee Code 66-29-102
  • Holder: means a person obligated to hold for the account of, or to deliver or pay to, the owner of property that is subject to this part. See Tennessee Code 66-29-102
  • Owner: includes :
    (A) A depositor, for a deposit. See Tennessee Code 66-29-102
  • Security: means :
    (A) A security interest, as that term is defined in §. See Tennessee Code 66-29-102
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(1) The date a second consecutive communication sent by the holder by first-class United States mail to the apparent owner is returned to the holder undelivered by the United States postal service; or
(2) If the second communication is made later than thirty (30) days after the first communication is returned, the date the first communication is returned undelivered to the holder by the United States postal service.
(b) If the apparent owner of a security does not receive communications from the holder by first-class United States mail, the holder shall attempt to confirm the apparent owner’s interest in the security by sending the apparent owner an electronic mail communication not later than two (2) years after the apparent owner’s indication of interest in the security. If the holder receives notification that the electronic mail communication was not received, or if the apparent owner does not respond to the electronic mail communication within thirty (30) days after the communication was sent, the holder shall promptly attempt to contact the apparent owner by first-class United States mail. If the mail is returned to the holder undelivered by the United States postal service, the security is presumed abandoned three (3) years after the date the mail is returned.
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