Code of Alabama - Title 35: Property - Chapter 12 - Lost or Unclaimed Property

• Article 1 General Provisions.
• Section 35-12-1 When finder becomes depositary
  One who finds a thing lost is not bound to take charge of it; but if he does so he is thenceforward a depositary for...
• Section 35-12-2 Proof of ownership of claimant
  The finder of a thing may in good faith, before giving it up, require reasonable proof of ownership from any person claiming it.
• Section 35-12-3 Compensation and reward for finder
  The finder of a thing is entitled to compensation for all expenses necessarily incurred by him in its preservation, and for any other service necessarily...
• Section 35-12-4 Placing thing found in storage
  The finder of a thing may exonerate himself from liability at any time by placing it on storage with any responsible person of good character...
• Section 35-12-5 Sale
  (a) The finder of a thing may sell it, if it is a thing which is commonly the subject of sale, when the owner cannot,...
• Section 35-12-6 Disposition of unclaimed articles left for service
  Any person who is regularly engaged in the business of performing services upon articles left in his or her custody for that purpose may, subject...
• Article 2 Uniform Disposition of Unclaimed Property Act.
• Division 1 In General.
• Section 35-12-20 Short title
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-21 Definitions
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-22 Property held by banking or financial organizations or business associations
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-23 Unclaimed funds held by insurance corporations
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-24 Deposits and refunds held by utilities
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-24.1 Exemptions
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-25 Undistributed dividends and distributions of business associations
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-26 Intangible property of business associations and banking or financial organizations held in course of dissolution
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-27 Intangible property held by fiduciaries
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-28 Property held by federal courts, officers, authorities or agencies
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-29 Miscellaneous personal property not otherwise covered by article
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-30 Reciprocity for property abandoned or escheated under laws of another state
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-31 Report of abandoned property
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-32 Notice to be published and mailed by Treasurer
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-33 Payment or delivery of abandoned property - Generally
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-34 Payment or delivery of abandoned property - Relief from liability; rights become obligations of state; reimbursement
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-35 Payment or delivery of abandoned property - Owner not entitled to income or other increments accruing after payment or delivery
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-36 Disposition of property by Treasurer
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-37 Duties, etc., not affected by expiration of limitation period
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-38 Sale of abandoned property or securities; presentation of matured bonds for payment; publication of notice
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-39 Deposit of funds
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-40 Claims for property or proceeds of sale - Filing of claim
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-41 Claims for property or proceeds of sale - Determination and payment by Treasurer
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-42 Claims for property or proceeds of sale - Judicial review
  Repealed by Act 2004-440, §2, effective May 12, 2004.
• Section 35-12-43 Examination of records by Treasurer
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-44 Proceedings to compel delivery of abandoned property
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-45 Penalties
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-46 Confidentiality of information; rules and regulations of Treasurer; employees; special counsel
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-47 Property presumed abandoned or escheated under laws of another state
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-48 Construction of article
  Repealed by Act 2004-440, §2, effective May 12, 2004.
• Division 2 Intangible Property.
• Section 35-12-50 When intangible property presumed abandoned
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Section 35-12-51 Reporting of voided State of Alabama issued warrants
  Repealed by Act 2004-440, p. 755, §2, effective May 12, 2004.
• Article 2A Uniform Disposition of Unclaimed Property Act of 2004.
• Section 35-12-70 Short title
  This article may be cited as the Uniform Disposition of Unclaimed Property Act of 2004.
• Section 35-12-71 Definitions
  As used in this article, unless the context otherwise requires, the following terms shall have the meanings respectively ascribed to them by this section: (1)...
• Section 35-12-72 Presumption of abandonment
  (a) Property is presumed abandoned if it is unclaimed by the apparent owner during the time set forth below for the particular property: (1) Traveler's...
• Section 35-12-73 Exemptions
  (a) The following entities are exempt from reporting property under this article: (1) Electric cooperatives organized under Chapters 6 and 7 of Title 37. (2)...
• Section 35-12-74 Rules for taking custody
  Except as otherwise provided in this article, or by other statute of this state, property that is presumed abandoned, whether located in this or another...
• Section 35-12-75 Dormancy charges
  (a) Any person engaged primarily in the business of selling tangible personal property at retail, by contract with the customer may, charge, and deduct from...
• Section 35-12-76 Report of abandoned property
  (a) A holder of property presumed abandoned shall make a report to the Treasurer concerning the property. The report shall be filed electronically and the...
• Section 35-12-77 Payment or delivery of abandoned property
  (a) Except for property held in a safe deposit box or other safekeeping depository, upon filing the report required in Section 35-12-76, the holder of...
• Section 35-12-78 Notification of abandoned property
  (a) It is specifically recognized that the state has an obligation to make an effort to notify apparent owners of abandoned property in a cost-effective...
• Section 35-12-79 Custody by state; recovery by holder; defense of holder
  (a) In this article, good faith means honesty in fact in the conduct or transaction concerned. (b) Upon payment or delivery of property to the...
• Section 35-12-80 Public sale of abandoned property
  (a) Except as otherwise provided in this section, the Treasurer, within three years after the receipt of abandoned property, shall sell it to the highest...
• Section 35-12-81 Deposit of funds
  (a) The Treasurer shall promptly deposit in the Unclaimed Property Reserve Fund, created within the Treasury, all funds received under this article, including but not...
• Section 35-12-82 Claim of another state to recover property
  (a) After property has been paid or delivered to the Treasurer under this article, another state may recover the property if any of the following...
• Section 35-12-83 Filing and handling of claims
  (a) A person, excluding another state, claiming property paid or delivered to the Treasurer may file a claim on a form prescribed by the Treasurer...
• Section 35-12-84 Filing of a claim - intestate and small claims
  (a) The surviving spouse or, if none, the surviving child or children or, if none, the surviving parent or parents of an abandoned property owner...
• Section 35-12-85 Action to establish a claim
  A person aggrieved by a decision of the Treasurer or whose claim has not been acted upon within 120 days after its filing may maintain...
• Section 35-12-86 Election to take payment or delivery
  (a) The Treasurer may decline to receive property reported under this article which the Treasurer considers to have a value less than the expenses of...
• Section 35-12-87 Disposition of property having no substantial commercial value
  If the Treasurer determines after investigation that property delivered under this article has no substantial commercial value, the Treasurer may destroy or otherwise dispose of...
• Section 35-12-88 Periods of limitation
  (a) The expiration, before or after May 12, 2004, of a period of limitation on the owner's right to receive or recover property, whether specified...
• Section 35-12-89 Requests for reports and examination of records
  (a) The Treasurer may require a person who has not filed a report, or a person who the Treasurer believes has filed an inaccurate, incomplete,...
• Section 35-12-90 Retention of records
  (a) Except as otherwise provided in subsection (b), a holder required to file a report under Section 35-12-76 shall maintain the records containing the information...
• Section 35-12-91 Interstate agreements
  (a) The Treasurer may enter into an agreement with another state to exchange information relating to abandoned property or its possible existence. The agreement may...
• Section 35-12-92 Penalties and enforcement
  (a) A holder who fails to report, pay, or deliver property within the time prescribed by this article, or fails to perform other duties imposed...
• Section 35-12-93 Agreement to locate property
  (a) An agreement by an owner, the primary purpose of which is to locate, deliver, recover, or assist in the recovery of property that is...
• Section 35-12-94 Confidentiality; staff
  (a) Certain information contained in a holder's report to the Treasurer under this article, such as Social Security numbers, policy numbers, tangible property descriptions, and...
• Section 35-12-95 Transitional provisions
  (a) An initial report filed under this article for property that was not required to be reported before May 12, 2004, but which is subject...
• Section 35-12-96 Uniformity of application and construction
  This article shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this article...

Last modified: May 3, 2021