Any tangible and intangible property held in a safe deposit box or any other safekeeping repository or agency or collateral deposit box in this state in the ordinary course of the holder’s business and proceeds resulting from the sale of the property permitted by other law, which remain unclaimed by the owner for more than three years after the lease or rental period on the box or other repository has expired, are presumed abandoned. Any United States savings bond included in the contents of a safe deposit box or other repository must be reported and recorded in the unclaimed property database, independently of the box or repository. The savings bonds must be listed using the owner information on the original bond under property type code SC15 United States Government Securities. The savings bonds must be claimable by the person listed on the bond or by that person’s heirs.

Source: SL 1992, ch 312, § 16; SL 1993, ch 326, § 3; SL 2012, ch 209, § 9; SL 2019, ch 194, § 1.