Administration of Property

Utah Code tit. 67, ch. 67-4a, pt. 67-4a-P8

in effect

Utah Code § 67-4a-801 Unclaimed Property Fund -- Deposit of funds by administrator.

67-4a-801. Unclaimed Property Fund -- Deposit of funds by administrator. (1) (a) There is created a custodial fund entitled the "Unclaimed Property Fund." (b) Except as otherwise provided in this section, the administrator shall deposit all funds received under this chapter, including proceeds from the sale of property under Part 7, Sale of Property by Administrator, in the fund. (c) The fund shall earn interest. (2) The administrator shall: (a) pay any legitimate claims or deductions authorized by this chapter from the fund; (b) before the end of the fiscal year, estimate the amount of money from the fund that will ultimately be needed to be paid to claimants; and (c) at the end of the fiscal year, transfer any amount in excess of that amount to the Uniform School Fund, except that unclaimed restitution for crime victims shall be transferred to the Crime Victim Compensation Fund. (3) Before making any transfer to the Uniform School Fund, the administrator may deduct from the fund: (a) amounts appropriated by the Legislature for administration of this chapter; (b) any costs incurred in connection with the sale of abandoned property; (c) costs of mailing and publication in connection with any abandoned property; (d) reasonable service charges; and (e) costs incurred in examining records of holders of property and in collecting the property from those holders. Amended by Chapter 291, 2026 General Session

Utah Code § 67-4a-802 Administrator to retain records of property.

67-4a-802. Administrator to retain records of property. The administrator shall: (1) record and retain the name and last known address of each person shown on a report filed under Section 67-4a-401 to be the apparent owner of property delivered to the administrator; (2) record and retain the name and last known address of each insured or annuitant and beneficiary shown on the report; (3) for each policy of insurance or annuity contract listed in the report of an insurance company, record and retain the policy or account number, the name of the company, and the amount due or paid; and (4) for each apparent owner listed in the report, record and retain the name of the holder that filed the report and the amount due or paid. Repealed and Re-enacted by Chapter 371, 2017 General Session

Utah Code § 67-4a-803 Expenses and service charges of administrator.

67-4a-803. Expenses and service charges of administrator. Before making a deposit of funds received under this chapter to the Uniform School Fund or the Crime Victim Compensation Fund, the administrator may deduct: (1) expenses of disposition of property delivered to the administrator under this chapter; (2) costs of mailing and publication in connection with property delivered to the administrator under this chapter; (3) reasonable service charges; and (4) expenses incurred in examining records of or collecting property from a putative holder or holder. Amended by Chapter 291, 2026 General Session

Utah Code § 67-4a-804 Administrator holds property as custodian for owner.

67-4a-804. Administrator holds property as custodian for owner. Property received by the administrator under this chapter is held in custody for the benefit of the owner and is not owned by the state. 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-P8.html?v=C67-4a-P8_2017050920170509Fetched: 10/26/2026