NRS 120A.570
Payment or delivery of abandoned property.


1.

Except for property held in a safe-deposit box or other safekeeping depository, upon filing the report required by NRS 120A.560, the holder of property presumed abandoned shall pay, deliver or cause to be paid or delivered to the Administrator the property described in the report as unclaimed, but if the property is an automatically renewable deposit, and a penalty or forfeiture in the payment of interest would result, the time for compliance is extended until a penalty or forfeiture would no longer result. Tangible property held in a safe-deposit box or other safekeeping depository may not be delivered to the Administrator until 60 days after filing the report required by NRS 120A.560.

2.

If the property reported to the Administrator is a security or security entitlement under NRS 104.8101 to 104.8511, inclusive, the Administrator is an appropriate person to make an endorsement, instruction or entitlement order on behalf of the apparent owner to invoke the duty of the issuer or its transfer agent or the securities intermediary to transfer or dispose of the security or the security entitlement in accordance with NRS 104.8101 to 104.8511, inclusive.

3.

If the holder of property reported to the Administrator is the issuer of a certificated security, the Administrator has the right to obtain a replacement certificate pursuant to NRS 104.8405, but an indemnity bond is not required.

4.

An issuer, the holder and any transfer agent or other person acting pursuant to the instructions of and on behalf of the issuer or holder in accordance with this section is not liable to the apparent owner and must be indemnified against claims of any person in accordance with NRS 120A.590.

Source: Section 120A.570 — Payment or delivery of abandoned property., https://www.­leg.­state.­nv.­us/NRS/NRS-120A.­html#NRS120ASec570.

120A.010
Short title.
120A.020
Definitions.
120A.025
“Administrator” defined.
120A.027
“Apparent owner” defined.
120A.040
“Business association” defined.
120A.051
“Domicile” defined.
120A.070
“Financial organization” defined.
120A.080
“Holder” defined.
120A.090
“Insurance company” defined.
120A.096
“Mineral” defined.
120A.097
“Mineral proceeds” defined.
120A.098
“Money order” defined.
120A.100
“Owner” defined.
120A.105
“Payroll card” defined.
120A.110
“Person” defined.
120A.113
“Property” defined.
120A.115
“Record” defined.
120A.118
“State” defined.
120A.119
“Stored-value card” defined.
120A.120
“Utility” defined.
120A.125
Inapplicability of chapter to tangible property held in safe-deposit box or other safekeeping depository not maintained by bank or other financial institution or safe-deposit company.
120A.135
Inapplicability of chapter to unredeemed gaming chips or tokens and intersection improvement project proceeds.
120A.140
Administration of chapter
120A.145
Information to remain confidential.
120A.500
Presumption of abandonment.
120A.505
Certain items due or owing between business associations with ongoing business relationship not presumed abandoned.
120A.510
Contents of safe-deposit box or other safekeeping depository.
120A.520
Value remaining on gift certificate.
120A.525
United States savings bonds.
120A.530
Rules for taking custody.
120A.540
Dormancy charge.
120A.550
Burden of proof as to property evidenced by record of check or draft.
120A.560
Report of abandoned property.
120A.570
Payment or delivery of abandoned property.
120A.580
Notice and publication of lists of abandoned property
120A.590
Custody by State
120A.600
Crediting of dividends and increments to account of owner.
120A.610
Public sale, destruction, disposition or transfer of abandoned property.
120A.620
Abandoned Property Trust Account.
120A.630
Claim of another state to recover property.
120A.640
Filing claim with Administrator
120A.645
Donation to State for educational purposes.
120A.650
Action to establish claim.
120A.660
Election to take payment or delivery.
120A.670
Destruction or disposition of property having no substantial commercial value
120A.680
Periods of limitation.
120A.690
Requests for reports and examination of records.
120A.700
Retention of records.
120A.710
Enforcement.
120A.715
Intrastate agreements and cooperation
120A.720
Interstate agreements and cooperation
120A.730
Interest and penalties.
120A.733
Fraudulent claims
120A.737
False statements
120A.740
Agreement to locate property.
120A.750
Uniformity of application and construction.
Last Updated

Feb. 5, 2021

§ 120A.570’s source at nv​.us