29A-3-1201. Collection of personal property by affidavit. (a) Thirty days after the death of a decedent, any person indebted to the decedent or having possession of tangible personal property or an instrument evidencing a debt, obligation, stock, or chose in action belonging to the decedent shall make payment of the indebtedness or deliver the tangible personal property or an instrument evidencing a debt, obligation, stock, or chose in action to a person claiming to be the successor of the decedent upon being presented an affidavit made by or on behalf of the successor stating that:
(1) The value of the entire estate, wherever located, less liens and encumbrances, does not exceed $50,000;
(2) Thirty days have elapsed since the death of the decedent;
(3) No application or petition for the appointment of a personal representative is pending or has been granted in any jurisdiction;
(4) The decedent has not incurred any indebtedness to the Department of Social Services for medical assistance for nursing home or other medical institutional care; and
(5) The claiming successor is entitled to payment or delivery of the property.
(b) A transfer agent of any security shall change the registered ownership on the books of a corporation from the decedent to the successor or successors upon the presentation of an affidavit as provided in subsection (a).
Source: SL 1994, ch 232, § 3-1201; SL 1995, ch 167, § 136; SL 1997, ch 172, § 1; SL 2002, ch 100, § 26; SL 2003, ch 157, § 1.
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