Enforcement by Administrator

Utah Code tit. 67, ch. 67-4a, pt. 67-4a-P12

in effect

Utah Code § 67-4a-1201 Judicial action to enforce liability.

67-4a-1201. Judicial action to enforce liability. (1) (a) If a determination under Section 67-4a-1011 becomes final and is not subject to administrative or judicial review, the administrator may commence an action in the district court or in a district court of another state to enforce the determination and secure payment or delivery of past due, unpaid, or undelivered property. (b) The action shall be brought not later than one year after the determination becomes final. (2) In an action under Subsection (1), if no court in this state has jurisdiction over the defendant, the administrator may commence an action in any court having jurisdiction over the defendant. Enacted by Chapter 371, 2017 General Session

Utah Code § 67-4a-1202 Interstate and international agreement -- Cooperation.

67-4a-1202. Interstate and international agreement -- Cooperation. (1) Subject to Subsection (2), the administrator may: (a) exchange information with another state or foreign country relating to property presumed abandoned or relating to the possible existence of property presumed abandoned; and (b) authorize in a record another state or foreign country or a person acting on behalf of the other state or foreign country to examine the other state or foreign country's records of a putative holder as provided in Part 10, Verified Report of Property and Examination of Records. (2) An exchange or examination under Subsection (1) may be done only if the state or foreign country has confidentiality and security requirements substantially equivalent to those in Part 14, Confidentiality and Security of Information, or agrees in a record to be bound by this state's confidentiality and security requirements. Enacted by Chapter 371, 2017 General Session

Utah Code § 67-4a-1203 Action involving another state or foreign country.

67-4a-1203. Action involving another state or foreign country. (1) The administrator may join another state or foreign country to examine and seek enforcement of this chapter against a putative holder. (2) On request of another state or foreign country, the attorney general may commence an action on behalf of the other state or foreign country to enforce, in this state, the law of the other state or foreign country against a putative holder subject to a claim by the other state or foreign country, if the other state or foreign country agrees to pay costs incurred by the attorney general in the action. (3) (a) The administrator may request the official authorized to enforce the unclaimed property law of another state or foreign country to commence an action to recover property in the other state or foreign country on behalf of the administrator. (b) This state shall pay the costs, including reasonable attorney fees and expenses, incurred by the other state or foreign country in an action under this Subsection (3). (4) The administrator may pursue an action on behalf of this state to recover property subject to this chapter but delivered to the custody of another state if the administrator believes the property is subject to the custody of the administrator. (5) The attorney general may retain an attorney for the administrator in this state, another state, or a foreign country to commence an action to recover property on behalf of the administrator and may agree to pay attorney fees based in whole or in part on a fixed fee, an hourly fee, or a percentage of the amount or value of property recovered in the action. (6) (a) Expenses incurred by this state in an action under this section may be paid from property received under this chapter or the net proceeds of the property. (b) Expenses paid to recover property may not be deducted from the amount that is subject to a claim under this chapter by the owner. Enacted by Chapter 371, 2017 General Session

Utah Code § 67-4a-1204 Interest and penalty for failure to act in timely manner.

67-4a-1204. Interest and penalty for failure to act in timely manner. (1) A holder that fails to report, pay, or deliver property within the time prescribed by this chapter shall pay to the administrator interest at an annual rate calculated based on the federal short-term rate determined by the secretary of the treasury under Section 6621, Internal Revenue Code, in effect for the preceding fourth calendar quarter plus four percentage points on the property or value of the property from the date the property should have been reported, paid, or delivered to the administrator until the date reported, paid, or delivered. (2) Except as otherwise provided in Section 67-4a-1205 or 67-4a-1206, the administrator may require a holder that fails to report, pay, or deliver property within the time prescribed by this chapter to pay to the administrator, in addition to interest included under Subsection (1), a civil penalty of $200 for each day the duty is not performed, up to a cumulative maximum amount of $5,000. Enacted by Chapter 371, 2017 General Session

Utah Code § 67-4a-1205 Other civil penalties.

67-4a-1205. Other civil penalties. (1) If a holder enters into a contract or other arrangement for the purpose of evading an obligation under this chapter or otherwise willfully fails to perform a duty imposed on the holder under this chapter, the administrator may require the holder to pay the administrator, in addition to interest as provided in Subsection 67-4a-1204(1), a civil penalty of $1,000 for each day the obligation is evaded or the duty is not performed, up to a cumulative maximum amount of $25,000, plus 25% of the amount or value of property that should have been but was not reported, paid, or delivered as a result of the evasion or failure to perform. (2) If a holder makes a fraudulent report under this chapter, the administrator may require the holder to pay to the administrator, in addition to interest under Subsection 67-4a-1204(1), a civil penalty of $1,000 for each day from the date the report was made until corrected, up to a cumulative maximum of $25,000, plus 25% of the amount or value of any property that should have been reported but was not included in the report or was under reported. Enacted by Chapter 371, 2017 General Session

Utah Code § 67-4a-1206 Waiver of interest and penalty.

67-4a-1206. Waiver of interest and penalty. The administrator: (1) may waive, in whole or in part, interest under Subsection 67-4a-1204(1) and penalties under Subsection 67-4a-1204(2) or Section 67-4a-1205; and (2) may waive a penalty under Subsection 67-4a-1204(2) if the administrator determines that the holder acted in good faith and without negligence. Enacted by Chapter 371, 2017 General Session

Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title67/Chapter4A/67-4a-P12.html?v=C67-4a-P12_2017050920170509Fetched: 10/26/2026