Payment or delivery of abandoned property to Administrator; delivery of duplicate certificate or other evidence of ownership to Administrator.
1. Except as otherwise provided in subsection 3 and NRS 120A.160, a person who files a report under NRS 120A.250 shall, at the time of filing the report, pay or deliver to the Administrator all abandoned property specified in the report.
2. The holder of an interest under NRS 120A.190 shall deliver a duplicate certificate or other evidence of ownership if the holder does not issue certificates of ownership to the Administrator. Upon delivery of a duplicate certificate to the Administrator, the holder and any transfer agent, registrar, or other person acting for or on behalf of a holder in executing or delivering the duplicate certificate is relieved of all liability to every person, including any person acquiring the original certificate or the duplicate of the certificate issued to the Administrator, for any losses or damages resulting to any person by the issuance and delivery to the Administrator of the duplicate certificate.
3. Property which in all probability will be presumed abandoned pursuant to this chapter may, upon conditions and terms prescribed by the Administrator, be reported and delivered by the holder to the Administrator before the property is presumed abandoned. Property so delivered must be held by the Administrator and is not presumed abandoned until it otherwise would be presumed abandoned pursuant to this chapter.
Last modified: February 27, 2006