Rhode Island General Laws 33-21.1-28. Destruction or disposition of property having insubstantial commercial value – Immunity from liability
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If the administrator determines after investigation that any property delivered under this chapter has insubstantial commercial value, the administrator may destroy or otherwise dispose of the property at any time. No action or proceeding may be maintained against the state, or any officer, or against the holder for on account of any action taken by the administrator pursuant to this section.
History of Section.
P.L. 1986, ch. 500, § 3.
Terms Used In Rhode Island General Laws 33-21.1-28
- Administrator: means the general treasurer or his or her designee, including agents hired for the express purpose of auditing, assessing and collecting unclaimed property. See Rhode Island General Laws 33-21.1-1
- Holder: means a person, wherever organized or domiciled, who is:
(i) In possession of property belonging to another,
(ii) A trustee, or
(iii) Indebted to another on an obligation. See Rhode Island General Laws 33-21.1-1
- State: means any state, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States. See Rhode Island General Laws 33-21.1-1