(a) Any holder of property not yet presumed abandoned under this part may enter into agreements as may be necessary to ascertain the whereabouts of the apparent owner; provided, that costs associated with such agreements must not be deducted from the property or charged to the owner.
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Terms Used In Tennessee Code 66-29-128

  • 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
  • Property: means tangible property described in §. See Tennessee Code 66-29-102
  • Treasurer: means the state treasurer. 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
(b) Except as otherwise provided in subsection (c), the holder of property presumed abandoned shall send notice that complies with § 66-29-129 to the apparent owner in a form approved by the treasurer, by first-class United States mail, not more than one hundred eighty (180) days, nor less than sixty (60) days, before filing the report under § 66-29-123 if:

(1) The holder has in its records an address for the apparent owner sufficient to direct the delivery of first-class United States mail to the apparent owner, which the holder’s records do not disclose to be invalid; and
(2) The value of the property is fifty dollars ($50.00) or more.
(c) If an apparent owner has consented to receive electronic mail communications from the holder, the holder shall send the notice described in subsection (a) both by first-class United States mail to the apparent owner’s last known mailing address and by electronic mail, unless the holder has reason to believe that the apparent owner’s electronic mail address is not valid.
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