All funds received under this article, including the proceeds from the sale of abandoned property under Code Section 44-12-217, shall be deposited by the commissioner in the general fund; provided, however, that the commissioner may deduct moneys necessary to cover the direct administrative expenses required to identify, locate, secure, and transmit abandoned property prior to depositing such funds. Before making a deposit he or she shall record the name and last known address of each person appearing from the holders' reports to be entitled to the abandoned property and of the name and last known address of each insured person or annuitant and, with respect to each policy or contract listed in the report of an insurance corporation, its number, the name of the corporation, and the amount due.
Section: Previous 44-12-211 44-12-212 44-12-213 44-12-214 44-12-215 44-12-216 44-12-217 44-12-218 44-12-219 44-12-220 44-12-221 44-12-222 44-12-223 44-12-224 44-12-225 NextLast modified: October 14, 2016