67-4a-1010.  Report by administrator to state official.

(1)  Not later than three months after the end of the fiscal year, the administrator shall compile and submit a report to the treasurer, president of the Senate, and speaker of the House.

Terms Used In Utah Code 67-4a-1010

  • Administrator: means the deputy state treasurer assigned by the state treasurer. See Utah Code 67-4a-102
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Property: includes :
(i) all income from or increments to the property;
(ii) property referred to as or evidenced by:
(A) money, virtual currency, interest, or a dividend, check, draft, or deposit;
(B) a credit balance, customer's overpayment, stored-value card, payroll card, security deposit, refund, credit memorandum, unpaid wage, unused ticket for which the issuer has an obligation to provide a refund, mineral proceeds, or unidentified remittance; and
(C) a security except for:
(I) a worthless security; or
(II) a security that is subject to a lien, legal hold, or restriction evidenced on the records of the holder or imposed by operation of law, if the lien, legal hold, or restriction restricts the holder's or owner's ability to receive, transfer, sell, or otherwise negotiate the security;
(iii) a bond, debenture, note, or other evidence of indebtedness;
(iv) money deposited to redeem a security, make a distribution, or pay a dividend;
(v) an amount due and payable under an annuity contract or insurance policy;
(vi) an amount distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit-sharing, employee-savings, supplemental-unemployment insurance, or a similar benefit; and
(vii) an amount held under a preneed funeral or burial contract, other than a contract for burial rights or opening and closing services, where the contract has not been serviced following the death or the presumed death of the beneficiary. See Utah Code 67-4a-102
  • State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Utah Code 67-4a-102
    • (2)  The report shall contain the following information about property presumed abandoned for the preceding fiscal year for the state:

    (a)  the total amount and value of all property paid or delivered under this chapter to the administrator, separated into:

    (i)  the part voluntarily paid or delivered; and

    (ii)  the part paid or delivered as a result of an examination under Section 67-4a-1002;

    (b)  the total amount and value of all property paid or delivered by the administrator to persons that made claims for property held by the administrator;

    (c)  the total amount expended to provide notice to apparent owners under Section 67-4a-503; and

    (d)  other information the administrator believes would be useful or informative.

    Enacted by Chapter 371, 2017 General Session

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