Except as otherwise provided in §§ 66-29-117 – 66-29-119, the treasurer may take custody of property presumed abandoned, whether located in this or another state, if:

(1) The transaction involving the property occurred in this state;
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Terms Used In Tennessee Code 66-29-120

  • Domicile: means :
    (A) For a corporation, the state of its incorporation. 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
  • Person: means an individual, estate, business association, public corporation, government or governmental subdivision, agency, instrumentality, or other legal entity. See Tennessee Code 66-29-102
  • Property: means tangible property described in §. See Tennessee Code 66-29-102
  • State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Tennessee Code 66-29-102
  • Treasurer: means the state treasurer. See Tennessee Code 66-29-102
(2) The holder is domiciled in a state that does not provide for the custodial taking of the property; provided, that if the property is specifically exempt from custodial taking under the law of the state of the holder’s domicile, the property is not subject to the custody of the treasurer; and
(3) The last known address of the apparent owner or other person entitled to the property is unknown or in a state that does not provide for the custodial taking of the property; provided, that if the property is specifically exempt from custodial taking under the law of the state in which the last known address is located, the property is not subject to the custody of the treasurer.
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