Idaho Code § 14-5-502

PART 5

NOTICE TO APPARENT OWNER OF PROPERTY PRESUMED ABANDONED

14-5-502. CONTENTS OF NOTICE BY HOLDER. (1) Notice required by section 14-5-501, Idaho Code, must contain a heading that reads substantially as follows: "Notice. The state of Idaho requires us to notify you that your property may be transferred to the custody of the state treasurer's office if you do not contact us before (insert date that is thirty (30) days after the date of this notice)."

(2) The notice required by section 14-5-501, Idaho Code, must:

(a) Identify the nature and, except for property that does not have a fixed value, the value of the property that is the subject of the notice;

(b) State that the property will be turned over to the administrator;

(c) State that after the property is turned over to the administrator an apparent owner that seeks return of the property must file a claim with the administrator;

(d) State that property that is not legal tender of the United States may be sold by the administrator;

(e) Provide instructions that the apparent owner must follow to prevent the holder from reporting and paying or delivering the property to the administrator; and

(f) Provide the name, address, and electronic mail address or telephone number to contact the holder.

(3) The holder may supplement the required information by listing a website where apparent owners may obtain more information about how to prevent the holder from reporting and paying or delivering the property to the administrator.

History:

[14-5-502, added 2024, ch. 27, sec. 2, p. 198.]