§ 1249. Notice and publication of lists of unclaimed property

(a) The treasurer shall notify apparent owners of unclaimed property under this chapter in the manner and method set out in subsection (b) of this section. In deciding whether to use an additional method specified in subdivision (b)(2) of this section, and which of those methods to use, the treasurer shall employ the method he or she deems to be the most cost-effective method available within its appropriations, while also giving consideration to the effectiveness of the method.

(b) The treasurer:

(1) shall notify all apparent owners of unclaimed property in accordance with this section by means of posting on the treasurer's website on the internet;

(2) may use any of the following to provide additional notice to the apparent owners:

(A) publication in a newspaper of general circulation:

(i) in the area of the state in which the last known address of a person to be named in the notice is located;

(ii) in the area in which the holder has its principal place of business in the state; or

(iii) in the area the treasurer deems to provide the best opportunity to reach the apparent owner;

(B) individual contact by regular or electronic mail, or by telephone, if the treasurer has current contact information on file;

(C) any other manner and method that the treasurer considers effective for providing notice and publication.

(c) In the notice and publication under subsection (b) of this section, the treasurer shall provide the names of the apparent owners of the property and information regarding recovery of the unclaimed property.

(d) The treasurer is not required to publish in the notice an item of less than $100.00 in value.

(e) The treasurer may establish a program to assist other state agencies holding property not presumed to be abandoned to locate the owners of the property. Under this program, the treasurer may publish the owners' names on the treasurer's website and in any other manner the treasurer deems appropriate without taking possession of the property. Owners contacting the treasurer's office under this program would be referred to the state agency possessing the property. Agencies participating in the program will remain obligated to report and remit the property to the treasurer's office after it is presumed abandoned. (Added 2005, No. 161 (Adj. Sess.), § 1; amended 2007, No. 40, § 8.)