(a) The treasurer, with the approval of the attorney general and reporter, may join other states or foreign countries to examine and seek enforcement of this part against any person believed to be holding property reportable under this part.
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Terms Used In Tennessee Code 66-29-172

  • 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
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • 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
(b) On request of another state or foreign country, the attorney general and reporter may commence an action on behalf of such state or country to enforce, in this state, the law of such state or country against a putative holder of property presumed abandoned and subject to a claim by the other state or country; provided, that such state or country agrees to pay the costs incurred by the attorney general and reporter in the action.
(c) The treasurer, with approval of the attorney general and reporter, may request the official authorized to enforce the unclaimed property law of another state or foreign country to commence an action to recover property in such state or country on behalf of the treasurer. This state shall pay all costs, including reasonable attorney’s fees and expenses, incurred by such state or country in an action under this subsection (c).
(d) The treasurer, with approval of the attorney general and reporter, may pursue an action on behalf of this state to recover property subject to this part that is delivered into the custody of another state if the treasurer believes the property is subject to the custody of the treasurer.
(e) The treasurer, with approval of the attorney general and reporter, may retain a private attorney in this state or another state or foreign country to commence an action to recover property on behalf of the treasurer and may agree to pay attorney’s fees based in whole or in part on a fixed fee, hourly fee, or a percentage of the amount or value of property recovered in the action.
(f) Expenses incurred by this state in an action under this section may be paid from property received under this part or net proceeds from the property. Expenses incurred to recover property must not be deducted from the amount that is subject to a claim under this part by the owner.
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