Deduction of administrative costs before deposit of funds

Before making a deposit of funds received under this part to the general fund of the state, the treasurer may deduct administrative costs, including, but not limited to: (1) Expenses of custody and disposition of abandoned property; (2) Costs of mailing, publication, and any other outreach efforts in connection with abandoned property; (3) Reasonable service charges; and (4) Expenses incurred in examining records of a putative holder of property and collecting property from a putative holder determined by the treasurer to hold property required to be delivered to the treasurer under this part. Added by 2017 Tenn. Acts, ch. 457,s 1, eff. 7/1/2017. Before making a deposit of funds received under this part to the general fund of the state, the treasurer may deduct administrative costs, including, but not limited to: (1) Expenses of custody and disposition of abandoned property; (2) Costs of mailing, publication, and any other outreach efforts in connection with abandoned property; (3) Reasonable service charges; and (4) Expenses incurred in examining records of a putative holder of property and collecting property from a putative holder determined by the treasurer to hold property required to be delivered to the treasurer under this part. Added by 2017 Tenn. Acts, ch. 457,s 1, eff. 7/1/2017.