(1) Notice under Section 67-4a-501 shall contain a heading that reads substantially as follows:

     “Notice. The State of Utah requires us to notify you that your property may be transferred to the custody of the state’s unclaimed property administrator if you do not contact us before (insert date that is 30 days after the date of this notice).”

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Terms Used In Utah Code 67-4a-502

  • Administrator: means the deputy state treasurer assigned by the state treasurer. See Utah Code 67-4a-102
  • 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 Utah Code 67-4a-102
  • Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Utah Code 67-4a-102
  • Holder: means a person obligated to hold for the account of, or to deliver or pay to, the owner property subject to this chapter. See Utah Code 67-4a-102
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Owner: includes :
              (26)(b)(i) a depositor, for a deposit;
              (26)(b)(ii) a beneficiary, for a trust other than a deposit in trust;
              (26)(b)(iii) a creditor, claimant, or payee, for other property; and
              (26)(b)(iv) the lawful bearer of a record that may be used to obtain money, a reward, or a thing of value. See Utah Code 67-4a-102
  • Property: includes :
              (29)(b)(i) all income from or increments to the property;
              (29)(b)(ii) property referred to as or evidenced by:
                   (29)(b)(ii)(A) money, virtual currency, interest, or a dividend, check, draft, or deposit;
                   (29)(b)(ii)(B) a credit balance, customer's overpayment, stored-value card, payroll card, security deposit, refund, credit memorandum, unpaid wage, unused ticket for which the issuer has an obligation to provide a refund, mineral proceeds, or unidentified remittance; and
                   (29)(b)(ii)(C) a security except for:
                        (29)(b)(ii)(C)(I) a worthless security; or
                        (29)(b)(ii)(C)(II) a security that is subject to a lien, legal hold, or restriction evidenced on the records of the holder or imposed by operation of law, if the lien, legal hold, or restriction restricts the holder's or owner's ability to receive, transfer, sell, or otherwise negotiate the security;
              (29)(b)(iii) a bond, debenture, note, or other evidence of indebtedness;
              (29)(b)(iv) money deposited to redeem a security, make a distribution, or pay a dividend;
              (29)(b)(v) an amount due and payable under an annuity contract or insurance policy;
              (29)(b)(vi) an amount distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit-sharing, employee-savings, supplemental-unemployment insurance, or a similar benefit; and
              (29)(b)(vii) an amount held under a preneed funeral or burial contract, other than a contract for burial rights or opening and closing services, where the contract has not been serviced following the death or the presumed death of the beneficiary. See Utah Code 67-4a-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 Utah Code 67-4a-102
  • United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
(2) The notice under Section 67-4a-501 shall:

     (2)(a) identify the nature and, except for property that does not have a fixed value, the value of the property that is the subject of the notice;
     (2)(b) state that the property will be turned over to the administrator;
     (2)(c) state that after the property is turned over to the administrator an apparent owner that seeks return of the property may file a claim with the administrator;
     (2)(d) state that property that is not legal tender of the United States may be sold by the administrator;
     (2)(e) provide instructions that the apparent owner shall follow to prevent the holder from reporting and paying or delivering the property to the administrator; and
     (2)(f) include the name, address, and electronic mail address or telephone number to contact the holder.
(3) The holder may supplement the required information by listing a website where apparent owners may obtain more information about how to prevent the holder from reporting and paying or delivering the property to the state treasurer.