(a) The treasurer may decline to take custody of property reported under § 66-29-123 if the treasurer determines that:
Terms Used In Tennessee Code 66-29-138
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Holder: means a person obligated to hold for the account of, or to deliver or pay to, the owner of property that is subject to this part. See Tennessee Code 66-29-102
Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Tennessee Code 66-29-102
(1) The property has a value less than the estimated expenses of notice and sale of the property; or(2) Taking custody of the property would be unlawful.(b) A holder may pay or deliver property to the treasurer before the property is presumed abandoned under this part if the holder:
(1) Sends the apparent owner of the property any notice required by § 66-29-128 and provides the treasurer evidence of the holder’s compliance with this subdivision (b)(1);(2) Includes with the payment or delivery a report regarding the property in accordance with § 66-29-124; and(3) First obtains the treasurer’s consent in a record to accept payment or delivery.(c) The holder must request the treasurer’s consent under subdivision (b)(3) in a record. If the treasurer fails to respond to the request not later than thirty (30) calendar days after receipt of the request, the treasurer is deemed to consent to the payment or delivery of the property and the payment or delivery is considered to have been made in good faith.(d) Upon payment or delivery of the property under subsection (b), the property is presumed abandoned.
