§ 1160 Recovery of securities or value by owner.

12 DE Code § 1160 (2019) (N/A)

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(a) Beginning on July 1, 2017, a person that makes a valid claim under this chapter of ownership of a security following delivery of a security to the State Escheator is entitled to receive from the State Escheator 1 of the following:

(1) If the security is in the custody of the State Escheator at the time of the claim, the security the holder delivered to the State Escheator, plus dividends, interest, and other increments on the security up to the time the claim is paid, to the extent paid to the State Escheator.

(2) If the claim is made within 18 months from the date notice was mailed by the State Escheator to the rightful owner under § 1150 of this title, the replacement of the security or the market value of the security at the time the claim is filed, at the option of the State Escheator.

(3) If the claim is made more than 18 months after the date notice was mailed by the State Escheator to the rightful owner under § 1150 of this title, the net proceeds of the sale of the security, plus dividends, interest, and other increments on the security up to the time the security is sold, to the extent paid to the State Escheator.

(b) The State Escheator is not liable in any action for any act of his or hers made in good faith under this section.

81 Del. Laws, c. 1, § 2; 70 Del. Laws, c. 186, § 1.

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