67-4a-307.  Burden of proof to establish administrator‘s right to custody.
     Subject to 4, if the administrator asserts a right to custody of unclaimed property and there is a dispute concerning such property, the administrator has the initial burden to prove:

(1)	the existence and amount of the property;

(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
(2)	the property is presumed abandoned; and

(3)	the property is subject to the custody of the administrator.

Enacted by Chapter 371, 2017 General Session