Probate Practice and Procedure

CHAPTER 33-21.1
Unclaimed Intangible and Tangible Property

SECTION 33-21.1-30

§ 33-21.1-30. Requests for reports and examination of records.

(a) The administrator may require any person who has not filed a report to file a verified report stating whether or not the person is holding any unclaimed property reportable or deliverable under this chapter.

(b) The administrator, at reasonable times and upon reasonable notice, may examine the records of any person to determine whether the person has complied with the provisions of this chapter. The administrator may conduct the examination even if the person believes he or she is not in possession of any property reportable or deliverable under this chapter.

(c) If a person is treated under § 33-21.1-12 as the holder of the property only insofar as the interest of the business association in the property is concerned, the administrator, pursuant to subsection (b), may examine the records of the person if the administrator has given the notice required by subsection (b) to both the person and the business association at least ninety (90) days before the examination.

(d) If an examination of the records of a person results in the disclosure of property reportable and deliverable under this chapter, the administrator may assess the cost of the examination against the holder at the rate of one hundred dollars ($100) a day for each examiner, but in no case may the charges exceed the value of the property found to be reportable and deliverable. The cost of examination made pursuant to subsection (c) may be imposed only against the business association.

(e) If a holder fails after July 1, 1987 to maintain the records required by § 33-21.1-31 and the records of the holder available for the periods subject to this chapter are insufficient to permit the preparation of a report, the administrator may require the holder to report and pay any amounts as may reasonably be estimated from any available records.

History of Section.
(P.L. 1986, ch. 500, § 3.)