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Can you summarize RIGL Title 33, Chapter 21.1?
Probate practice and procedure > Unclaimed Intangible and Tangible Property
Short Summary
The legal document content covers various aspects related to unclaimed intangible and tangible property in the State of Rhode Island. It defines key terms used in the chapter and specifies the entities to which the chapter applies. The documents outline the presumption of abandonment for different types of property, such as unpaid wages, checks, drafts, and similar instruments issued by banking and financial organizations, intangible property, uncashed vendor checks, property held by the state, property held by agents and fiduciaries, property held by courts or other government entities, property held by insurance companies, property held by business associations, property held by utilities, and property held in safe deposit boxes or repositories. The documents also address the reporting and examination of records related to unclaimed property, the treatment of refunds, the filing of claims with the administrator, the recovery of property by other states, the treatment of stock or other intangible ownership interests, the treatment of unclaimed credit memos, the treatment of property in demutualization of insurance companies, the notice and publication of lists of abandoned property, the establishment of claims, the disposal of property with insubstantial commercial value, the enforcement of the chapter, the public sale of abandoned property, and the payment or delivery of abandoned property. The documents do not mention any specific exemptions or penalties.
Whom does it apply to?
The documents apply to administrators, apparent owners, banking organizations, business associations, financial organizations, hospitals, holders, insurance companies, other domestic charitable corporations, owners, persons, private nonprofit institutions of higher education, states, and utilities. Nonprofit corporations organized under specific chapters of title 27 with 100 or fewer employees are exempt from the provisions of this chapter.
What does it govern?
The legal document content pertains to the State of Rhode Island General Laws on Probate practice and procedure, specifically addressing unclaimed intangible and tangible property.
What are exemptions?
Nonprofit corporations organized under specific chapters of title 27 with 100 or fewer employees are exempt from the provisions of this chapter.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Rhode Island