ARM 42.38.201

ARM 42.38.201. PRESUMPTION OF ABANDONMENT -- EXCEPTION

SupersededLast amended: 1998Length: 84 wordsOfficial source

Cite as Mont. Admin. R. 42.38.201

(1) Property in the possession of a holder that is presumed abandoned under the act must be reported and delivered to the department as abandoned property. (2) Property held by a fiduciary is presumed abandoned unless the owner has, within 5 years after it became payable or distributable: (a) increased or decreased the principal; (b) accepted payment of principal or income; (c) corresponded in writing concerning the property; or (d) otherwise indicated an interest as evidenced by a memorandum on file with the fiduciary.
ARM 42.38.201: ARM 42.38.201. PRESUMPTION OF ABANDONMENT -- EXCEPTION | Justis AI