Abandoned Property - General Provisions - Statutes of limitations not a bar

Published: 2014-09-22

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
§ 1400. Statutes of limitations not a bar. The expiration of any
period of time specified by law, during which an action or proceeding
may be commenced or enforced to secure payment of a claim for money or
recovery of property, shall not prevent any such money or property from
being deemed abandoned property, nor affect any duty to file a report
required by this chapter or to pay or deliver to the state comptroller
any such abandoned property; and shall not serve as a defense in any
action or proceeding by or on behalf of the state comptroller to compel
the filing of any report or the payment or delivery of any abandoned
property required by this chapter or to enforce or collect any penalty
provided by this chapter.