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Can you summarize KSST Chapter 58, Article 39?
PERSONAL AND REAL PROPERTY > DISPOSITION OF UNCLAIMED PROPERTY ACT
Short Summary
The Disposition of Unclaimed Property Act in Kansas governs the treatment of unclaimed property in the state. It applies to various entities, including individuals, business associations, financial organizations, estates, trusts, government entities, and other legal or commercial entities. The act outlines the provisions and procedures for dealing with tangible or intangible personal property that has been left unclaimed. However, there are several exemptions to this act. It does not apply to property subject to specific provisions and amendments such as those related to motor vehicles, public utilities, cooperative associations, societies, corporations, and personal property being administered or distributed under other provisions. The act does not specify any penalties for non-compliance or violation. Overall, this act provides guidelines for the disposition of unclaimed property in Kansas, with certain exemptions for specific types of property and circumstances.
Whom does it apply to?
The act applies to various entities, including individuals, business associations, financial organizations, estates, trusts, government entities, and other legal or commercial entities.
What does it govern?
The Disposition of Unclaimed Property Act in Kansas governs the treatment of unclaimed property, including tangible and intangible personal property, in the state.
What are exemptions?
The act does not apply to property subject to specific provisions and amendments such as those related to motor vehicles, public utilities, cooperative associations, societies, corporations, and personal property being administered or distributed under other provisions.
What are the Penalties?
The act does not specify any penalties for non-compliance or violation.
Jurisdiction
Kansas