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18-28-223. Interstate agreements and cooperation — Joint and reciprocal actions with other states.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-28-223. Interstate agreements and cooperation — Joint and reciprocal actions with other states.
(a) The administrator may enter into an agreement with another state to exchange information relating to abandoned property or its possible existence. The agreement may permit the other state, or another person acting on behalf of a state, to examine records as authorized in § 18-28-220. The administrator by rule may require the reporting of information needed to enable compliance with an agreement made under this section and prescribe the form.
(b) The administrator may join with another state to seek enforcement of this subchapter against any person who is or may be holding property reportable under this subchapter.
(c) At the request of another state, the Attorney General of this state may maintain an action on behalf of the other state to enforce, in this state, the unclaimed property laws of the other state against a holder of property subject to escheat or a claim of abandonment by the other state, if the other state has agreed to pay expenses incurred by the Attorney General in maintaining the action.
(d) The administrator may request that the attorney general of another state or another attorney commence an action in the other state on behalf of the administrator. With the approval of the Attorney General of this state, the administrator may retain any other attorney to commence an action in this state on behalf of the administrator. This state shall pay all expenses, including attorney's fees, in maintaining an action under this subsection. With the administrator's approval, the expenses and attorney's fees may be paid from money received under this subchapter. The administrator may agree to pay expenses and attorney's fees based in whole or in part on a p
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-28-223
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:18-28-223
Source file: gov.ar.code.title.18.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 71c9409f1d4357bf6b6bd7e0f6ef75fa81ebd65925d216bd9f367a4faf8d9350
Source location: content.xml paragraph 6966
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18-28-223. Interstate agreements and cooperation — Joint and reciprocal actions with other states.
(a) The administrator may enter into an agreement with another state to exchange information relating to abandoned property or its possible existence. The agreement may permit the other state, or another person acting on behalf of a state, to examine records as authorized in § 18-28-220. The administrator by rule may require the reporting of information needed to enable compliance with an agreement made under this section and prescribe the form.
(b) The administrator may join with another state to seek enforcement of this subchapter against any person who is or may be holding property reportable under this subchapter.
(c) At the request of another state, the Attorney General of this state may maintain an action on behalf of the other state to enforce, in this state, the unclaimed property laws of the other state against a holder of property subject to escheat or a claim of abandonment by the other state, if the other state has agreed to pay expenses incurred by the Attorney General in maintaining the action.
(d) The administrator may request that the attorney general of another state or another attorney commence an action in the other state on behalf of the administrator. With the approval of the Attorney General of this state, the administrator may retain any other attorney to commence an action in this state on behalf of the administrator. This state shall pay all expenses, including attorney's fees, in maintaining an action under this subsection. With the administrator's approval, the expenses and attorney's fees may be paid from money received under this subchapter. The administrator may agree to pay expenses and attorney's fees based in whole or in part on a percentage of the value of any property recovered in the action. Any expenses or attorney's fees paid under this subsection may not be deducted from the amount that is subject to the claim by the owner under this subchapter.
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Arkansas Code — all titles (historical 2020) · legal_authorities
18-28-220. Requests for reports and examination of records.
(a) The administrator may require a person who has not filed a report, or a person who the administrator believes has filed an inaccurate, incomplete, or false report, to file a verified report in a form specified by the administrator. The report must state whether the person is holding property reportable under this subchapter, describe property not previously reported or as to which the administrator has made inquiry, and specifically identify and state the amounts of property that may be in issue.
(b) The administrator, at reasonable times and upon reasonable notice, may examine the records of any person to determine whether the person has complied with this subchapter. The administrator may conduct the examination even if the person believes it is not in possession of any property that must be reported, paid, or delivered under this subchapter. The administrator may contract with any other person to conduct the examination on behalf of the administrator.
(c) The administrator at reasonable times may examine the records of an agent, including a dividend disbursing agent or transfer agent, of a business association or financial association that is the holder of property presumed abandoned if the administrator has given the notice required by subsection (b) to both the association or organization and the agent at least ninety (90) days before the examination.
(d) Documents and working papers obtained or compiled by the administrator, or the administrator's agents, employees, or designated representatives, in the course of conducting an examination are confidential and are not public records, but the documents and papers may be:
(1) used by the administrator in the course of an action to collect uncla
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-28-220
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 18-28-220. This identifies an authority to review, not proof of applicability.