§523A-24 Filing of claim with director. (a) A person, excluding another state, claiming an interest in any property paid or delivered to the director may file with the director a claim on a form prescribed by the director and verified by the claimant.

(b) The director shall consider each claim within one hundred twenty days after it is filed and give written notice to the claimant if the claim is denied in whole or in part. The notice may be given by mailing it to the last address, if any, stated in the claim as the address to which notices are to be sent. If no address for notice is stated in the claim, the notice may be mailed to the last address, if any, of the claimant as stated in the claim. No notice of denial need be given if the claim fails to state either the last address to which notices are to be sent or the address of the claimant.

(c) If a claim is allowed, the director shall pay over or deliver to the claimant the property or the amount the director actually received or the net proceeds if it has been sold by the director, together with any additional amount required by section 523A-21. If the claim is for property presumed abandoned under section 523A-10 which was sold by the director within three years after the date of delivery, the amount payable for that claim is the value of the property at the time the claim was made or the net proceeds of sale, whichever is greater. [L 1983, c 37, pt of §2; am L 1996, c 214, §5]