(a) The treasurer shall prescribe by rule procedures and standards for an examination under § 66-29-157, including procedures and standards for the use of an estimation, extrapolation, and statistical sampling during an examination.

Terms Used In Tennessee Code 66-29-158

  • 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.
  • Person: means an individual, estate, business association, public corporation, government or governmental subdivision, agency, instrumentality, or other legal entity. See Tennessee Code 66-29-102
  • Property: means tangible property described in §. 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
  • Treasurer: means the state treasurer. See Tennessee Code 66-29-102
(b) An examination under § 66-29-157 must be performed in accordance with procedures and standards adopted by rule under subsection (a) and with generally accepted examination procedures and standards applicable to unclaimed property examinations.
(c) If a person subject to examination under § 66-29-157 has filed all reports required by § 66-29-123 and has retained the records required by § 66-29-126, the following provisions apply:

(1) The examination must include a review of the person’s records;
(2) The examination must not be based on an estimate unless the person expressly consents in a record to the use of an estimate; and
(3) The person conducting the examination shall consider all evidence presented by the person in good faith in preparing a report of the examination under § 66-29-162.
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