HARRY HUGHES, Governor                               2893

(B) THE NOTICE REQUIRED IN THIS SECTION IS NOT
REQUIRED WITH RESPECT TO CHARGES IMPOSED OR BENEFITS THAT
CEASED PRIOR TO JULY 1, 1981.

17-114.1.

(A)  IN CASE ANY BANKING OR FINANCIAL ORGANIZATION,
INSURANCE CORPORATION, OR UTILITY NEITHER HOLDS NOR OWES ANY
ABANDONED PROPERTY SPECIFIED IN THIS TITLE ON JUNE 30 OF ANY
YEAR, IT SHALL MAKE A WRITTEN REPORT TO THE ADMINISTRATOR SO
STATING AS PROVIDED IN THIS SECTION.

(B)  THE REPORT SHALL BE SIGNED BY THE HOLDER WHO, BY
SIGNING, ATTESTS TO THE VERACITY OF THE REPORT.

(C)  THE REPORT SHALL BE MADE ON A STANDARD FORM AND
INCLUDE INFORMATION THAT THE ADMINISTRATOR REQUIRES.

(D) (1) FOR BANKING OR FINANCIAL ORGANIZATIONS, THE
REPORT SHALL BE FOR THE PERIOD OF JULY 1 THROUGH JUNE 30 AND
SHALL BE FILED NO LATER THAN OCTOBER 31 OF THE SAME YEAR.

(2) FOR INSURANCE CORPORATIONS, THE REPORT SHALL
BE FOR THE PERIOD OF JANUARY 1 THROUGH DECEMBER 31 OF EACH
YEAR, AND SHALL BE FILED NO LATER THAN APRIL 30 OF THE
FOLLOWING YEAR.

17-118.

[When property is paid or delivered to the
administrator under this title, the owner is not entitled to
receive income or other increments which subsequently
accrue.]

(A)  WHEN PROPERTY THAT WAS INTEREST BEARING TO THE
OWNER ON THE DATE OF SURRENDER BY THE HOLDER IS PAID OR
DELIVERED TO THE ADMINISTRATOR, THE ADMINISTRATOR SHALL PAY
AN INTEREST RATE THAT IS THE LESSER OF:

(1)  5 PERCENT; OR

(2)  A LESSER RATE THAT THE PROPERTY EARNED WHILE
IN THE POSSESSION OF THE HOLDER.

(B)  IF A CLAIM TO PROPERTY UNDER SUBSECTION (A) OF
THIS SECTION IS DETERMINED IN FAVOR OF THE CLAIMANT, THE
ADMINISTRATOR SHALL PAY TO THE CLAIMANT THE REQUIRED
INTEREST ACCRUED FOR THE PERIOD OF TIME THE ADMINISTRATOR
HELD THE PROPERTY, UP TO 5 YEARS.

(C)  INTEREST IS NOT REQUIRED TO BE PAID UNDER THIS
SECTION FOR ANY PERIOD BEFORE JULY 1, 1981.

17-120.