(a) Subject to the period of limitation set forth in section 523A-19(c), after property has been paid or delivered to the administrator under this part, another state may recover the property if:
Apparent owner: means a person whose name appears on the records of a holder as the person entitled to property held, issued, or owing by the holder. See Hawaii Revised Statutes 523A-2
Domicile: means the state of incorporation of a corporation and the state of the principal place of business of a holder other than a corporation. See Hawaii Revised Statutes 523A-2
Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
Holder: means a person obligated to hold for the account of, or deliver or pay to, the owner of property that is subject to this part. See Hawaii Revised Statutes 523A-2
Money order: includes an express money order and a personal money order, on which the remitter is the purchaser. See Hawaii Revised Statutes 523A-2
Owner: means a person who has a legal or equitable interest in property subject to this part or the person's legal representative. See Hawaii Revised Statutes 523A-2
Person: means an individual, business association, financial organization, estate, trust, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Hawaii Revised Statutes 523A-2
Property: means tangible property described in § 523A-4 or a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom. See Hawaii Revised Statutes 523A-2
State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States. See Hawaii Revised Statutes 523A-2
(1) The property was paid or delivered to the custody of this State because the records of the holder did not reflect a last known location of the apparent owner within the borders of the other state and the other state establishes that the apparent owner or other person entitled to the property was last known to be located within the borders of that state and under the laws of that state the property has escheated or become subject to a claim of abandonment by that state;(2) The property was paid or delivered to the custody of this State because the laws of the other state did not provide for the escheat or custodial taking of the property, and under the laws of that state subsequently enacted the property has escheated or become subject to a claim of abandonment by that state;(3) The records of the holder were erroneous in that they did not accurately identify the owner of the property and the last known location of the owner within the borders of another state and under the laws of that state the property has escheated or become subject to a claim of abandonment by that state;(4) The property was subjected to custody by this State under section 523A-5(6) and under the laws of the state of domicile of the holder the property has escheated or become subject to a claim of abandonment by that state; or(5) The property is a sum payable on a traveler’s check, money order, or similar instrument that was purchased in the other state and delivered into the custody of this State under section 523A-5(7), and under the laws of the other state the property has escheated or become subject to a claim of abandonment by that state.(b) A claim of another state to recover escheated or abandoned property shall be presented in a form prescribed by the administrator, who shall decide the claim within ninety days after it is presented. The administrator shall allow the claim upon determining that the other state is entitled to the abandoned property under subsection (a).(c) The administrator shall require another state, before recovering property under this section, to agree to indemnify this State and its officers and employees against any liability on a claim to the property.
