(1) The expiration, before or after the effective date of this act, of any period of time specified by contract, statute, or court order, during which a claim for money or property can be made or during which an action or proceeding may be commenced or enforced to obtain payment of a claim for money or to recover property, does not prevent the money or property from being presumed abandoned or affect any duty to file a report or to pay or deliver abandoned property to the administrator as required in this chapter except as provided in subsection (2) of this section.
(2)  Where a holder has filed a report as required by section 14-517, Idaho Code, the administrator may commence any action or proceeding with respect to any duty of a holder to report and deliver unclaimed property under this act within three (3) years after the time for the filing of a report concerning the property as required by section 14-517, Idaho Code.

Terms Used In Idaho Code 14-529

  • Administrator: means the state treasurer or his or her duly authorized agents or employees. See Idaho Code 14-501
  • Contract: A legal written agreement that becomes binding when signed.
  • Holder: means a person, wherever organized or domiciled, who is:
Idaho Code 14-501
  • Property: includes both real and personal property. See Idaho Code 73-114
  • Statute: A law passed by a legislature.
    • (3)  Where a holder violates section 14-517, Idaho Code, by failing to file a report, the administrator may commence any action or proceeding with respect to any duty of a holder to report and deliver unclaimed property under this act within seven (7) years after the time for the filing of a report concerning the property as required by section 14-517, Idaho Code.