[§523A-28]  Transitional provisions.  [Section effective July 1, 2009.  For current section, see below.]  (a)  An initial report filed under this part for property that was not required to be reported before July 1, 2009 but which is subject to this part shall include all items of property that would have been presumed abandoned during the ten-year period next preceding July 1, 2009 as if this part had been in effect during that period.

     (b)  This part does not relieve a holder of a duty that arose before July 1, 2009 to report, pay, or deliver property.  Except as otherwise provided in section  523A-19(b), a holder who did not comply with the law in effect before July 1, 2009 shall be subject to the applicable provisions for enforcement and penalties which then existed, which are continued in effect for the purpose of this section. [L 2008, c 55, pt of §1]

 

Revision Note

 

  "July 1, 2009" substituted for "the effective date of this chapter".

 

 

     [§523A-28]  Destruction or disposition of property having insubstantial commercial value; immunity from liability.  [Section repealed July 1, 2009.]  If the director determines after investigation that any property delivered under this part has insubstantial commercial value, the director may destroy or otherwise dispose of the property at any time.  No action or proceeding may be maintained against this State or any officer or against the holder for or on account of any action taken by the director pursuant to this section. [L 1983, c 37, pt of §2]