§523A-25 Claim of another state to recover property; procedure. (a) At any time after property has been paid or delivered to the director under this part another state may recover the property if:
(1) The property was subject to custody by this State because the records of the holder did not reflect the last known address of the apparent owner when the property was presumed abandoned under this part, and the other state establishes that the last known address of the apparent owner or other person entitled to the property was in that state and under the laws of that state the property escheated to or was subject to a claim of abandonment by that state;
(2) The last known address of the apparent owner or other person entitled to the property, as reflected by the records of the holder, is in the other state and under the laws of that state the property has escheated to or become subject to a claim of abandonment by that state;
(3) The records of the holder were erroneous in that they did not accurately reflect the actual owner of the property and the last known address of the actual owner is in the other state and under the laws of that state the property escheated to or was subject to a claim of abandonment by that state;
(4) The property was subjected to custody by this State under section 523A-3(6) and under the laws of the state of domicile of the holder the property has escheated to or become subject to a claim of abandonment by that state; or
(5) The property is the sum payable on a travelers check, money order, or other similar instrument that was subjected to custody by this State under section 523A-4, and the instrument was purchased in the other state, and under the laws of that state the property escheated to or became subject to a claim of abandonment by that state.
(b) The claim of another state to recover escheated or abandoned property shall be presented in a form prescribed by the director, who shall decide the claim within one hundred twenty days after it is presented. The director shall allow the claim if the director determines that the other state is entitled to the abandoned property under subsection (a).
(c) The director shall require a state, before recovering property under this section, to agree to indemnify this State and its officers and employees against any liability on a claim for the property. [L 1983, c 37, pt of §2; am L 1996, c 214, §6]