Utah Code 67-4a-1011. Determination of liability for unreported reportable property
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Terms Used In Utah Code 67-4a-1011
- Administrator: means the deputy state treasurer assigned by the state treasurer. See Utah Code 67-4a-102
- Holder: means a person obligated to hold for the account of, or to deliver or pay to, the owner property subject to this chapter. See Utah Code 67-4a-102
- Property: includes :
(i) all income from or increments to the property; (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 - Putative holder: means a person believed by the administrator to be a holder, until:
(a) the person pays or delivers to the administrator property subject to this chapter; or (b) the administrator or a court makes a final determination that the person is or is not a holder. See Utah Code 67-4a-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 Utah Code 67-4a-102
67-4a-1011. Determination of liability for unreported reportable property.
If the administrator determines from an examination conducted under Section 67-4a-1002 that a putative holder failed or refused to pay or deliver to the administrator property that is reportable under this chapter, the administrator shall issue a determination of the putative holder‘s liability to pay or deliver and give notice in a record to the putative holder of the determination.Enacted by Chapter 371, 2017 General Session
- Putative holder: means a person believed by the administrator to be a holder, until: