Louisiana Revised Statutes 9:169 – Election to take payment or delivery
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Terms Used In Louisiana Revised Statutes 9:169
- Administrator: means the state treasurer. See Louisiana Revised Statutes 9:153
- 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 Chapter. See Louisiana Revised Statutes 9:153
- Property: means 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 or governmental entity, and all income or increments therefrom. See Louisiana Revised Statutes 9:153
A. The administrator may decline to receive property reported under this Chapter that the administrator considers to have a value less than the expenses of notice and sale.
B. A holder, with the written consent of the administrator and upon conditions and terms prescribed by the administrator, may report and deliver property before the property is presumed abandoned. Property so delivered shall be held by the administrator and is not presumed abandoned until it otherwise would be presumed abandoned under this Chapter.
Acts 1986, No. 829, §1, eff. July 10, 1986; Acts 1992, No. 74, §1, eff. June 5, 1992; Acts 1997, No. 809, §1, eff. July 10, 1997.