47-30.2-74. (1503) Transitional provision - Effect of new provisions - Clarification of application

47-30.2-74. (1503) Transitional provision - Effect of new provisions - Clarification of application. 1. This chapter does not relieve a holder of a duty that arose before July 1, 2021, to report, pay, or deliver property. A holder that fails to comply with the law in effect before July 1, 2021, is subject to the applicable enforcement and penalty provisions that existed before July 1, 2021, and the applicable provisions are continued in effect for the purpose of this subsection. 2. The initial report filed under this chapter for property that was not required to be reported before July 1, 2021, but which is subject to this chapter must include all items of property that would have been presumed abandoned during the ten-year period preceding July 1, 2021, as if this chapter had been in effect during that period.