Utah Code 67-4a-904. When administrator shall honor claim for property
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(1) The administrator shall pay or deliver property to a claimant under Subsection 67-4a-903(1) if the administrator receives evidence sufficient to establish to the satisfaction of the administrator that the claimant is the owner of the property.
Terms Used In Utah Code 67-4a-904
- Administrator: means the deputy state treasurer assigned by the state treasurer. See Utah Code 67-4a-102
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Utah Code 67-4a-102
(2) Not later than 90 days after a claim is filed under Subsection 67-4a-903(1), the administrator shall allow or deny the claim and give the claimant notice in a record of the decision.(3) If the claim is denied under Subsection (2):(3)(a) the administrator shall inform the claimant of the reason for the denial and specify what additional evidence, if any, is required for the claim to be allowed;(3)(b) the claimant may file an amended claim with the administrator or commence an action under Section 67-4a-906; and(3)(c) the administrator shall consider an amended claim filed under Subsection (3)(b) as an initial claim.(4) If the administrator does not take action on a claim during the 90-day period following the filing of a claim under Subsection 67-4a-903(1), the claim is considered denied. - Property: includes :