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Can you summarize IDST Title 14, Chapter 5?
ESTATES OF DECEDENTS > UNCLAIMED PROPERTY LAW
Short Summary
The provided legal document content pertains to the Idaho Statutes governing the Unclaimed Property Law under the Estates of Decedents. It covers various aspects of the Unclaimed Property Law, including the treatment of different types of unclaimed property, the responsibilities and obligations of holders, the procedures for reporting and delivering unclaimed property to the administrator, the rights and claims of owners, and the enforcement actions and administrative rules related to the Unclaimed Property Law. The documents also address the retention of records for unclaimed property, interstate agreements and cooperation for joint actions with other states, interest and penalties associated with the failure to pay or deliver property, periods of limitation for claims and actions related to unclaimed property, requests for reports and examination of records, filing of claims with the administrator, the decline of property with a value less than the expense of giving notice and sale, redetermination of denied claims, examination and disposal of property by the administrator, recovery of property by another state, public sale of abandoned property, entitlement to dividends and other increments on delivered property, payment or delivery of abandoned property, custody of unclaimed property by the state, treatment of stock and other intangible interests, treatment of property in the course of a business association’s dissolution, treatment of refunded sums ordered by a court or administrative agency, treatment of bank deposits and funds in financial organizations, treatment of travelers checks and money orders, treatment of checks, drafts, and similar instruments, treatment of intangible unclaimed property, and definitions of terms used in the Unclaimed Property Law. The Unclaimed Property Law applies to various entities, including holders of unclaimed property, business associations selling travelers checks or money orders, banking and financial organizations, utilities, and individuals who claim an interest in property paid or delivered to the administrator. The exemptions mentioned in the documents include property held, due, and owing in a foreign country and arising out of a foreign transaction, as well as property enrolled in a plan that automatically reinvests dividends, distributions, or other sums. The documents do not specify any specific penalties for non-compliance or violation of their provisions.
Whom does it apply to?
The Unclaimed Property Law applies to various entities, including holders of unclaimed property, business associations selling travelers checks or money orders, banking and financial organizations, utilities, and individuals who claim an interest in property paid or delivered to the administrator.
What does it govern?
The legal document content pertains to the Idaho Statutes governing the Unclaimed Property Law under the Estates of Decedents.
What are exemptions?
The exemptions mentioned in the documents include property held, due, and owing in a foreign country and arising out of a foreign transaction, as well as property enrolled in a plan that automatically reinvests dividends, distributions, or other sums.
What are the Penalties?
The documents do not specify any specific penalties for non-compliance or violation of their provisions.
Jurisdiction
Idaho