(a) Expiration, before, on, or after July 1, 2017, of a period of limitation on an owner‘s right to receive or recover property, whether specified by contract, statute, or court order, does not prevent the property from being presumed abandoned or affect the duty of a holder to file a report or pay or deliver property to the treasurer under this part.

Terms Used In Tennessee Code 66-29-140

  • Contract: A legal written agreement that becomes binding when signed.
  • 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
  • Owner: includes :
    (A) A depositor, for a deposit. See Tennessee Code 66-29-102
  • Property: means tangible property described in §. See Tennessee Code 66-29-102
  • Statute: A law passed by a legislature.
  • Treasurer: means the state treasurer. See Tennessee Code 66-29-102
(b) The treasurer shall not commence an action, proceeding, or examination with respect to a duty of a holder under this part more than ten (10) years after the duty arose.
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