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18-28-227. Transitional provisions.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-28-227. Transitional provisions.
(a) An initial report filed under this subchapter for property that was not required to be reported before July 30, 1999, but which is subject to this subchapter must include all items of property that would have been presumed abandoned during the ten-year period next preceding July 30, 1999, as if this subchapter had been in effect during that period.
(b) This subchapter does not relieve a holder of a duty that arose before July 30, 1999, to report, pay, or deliver property. Except as otherwise provided in § 18-28-219(b), a holder who did not comply with the law in effect before July 30, 1999, is subject to the applicable provisions for enforcement and penalties which then existed, which are continued in effect for the purpose of this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-28-227
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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Record provenance
Stable record: arkansas_code:legal_authorities:18-28-227
Source file: gov.ar.code.title.18.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 804705d121a1660a2b174d297780bb60699c5cfe4b5c985e090290d6af404758
Source location: content.xml paragraph 7003
Stored source content
18-28-227. Transitional provisions.
(a) An initial report filed under this subchapter for property that was not required to be reported before July 30, 1999, but which is subject to this subchapter must include all items of property that would have been presumed abandoned during the ten-year period next preceding July 30, 1999, as if this subchapter had been in effect during that period.
(b) This subchapter does not relieve a holder of a duty that arose before July 30, 1999, to report, pay, or deliver property. Except as otherwise provided in § 18-28-219(b), a holder who did not comply with the law in effect before July 30, 1999, is subject to the applicable provisions for enforcement and penalties which then existed, which are continued in effect for the purpose of this section.
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Arkansas Code — all titles (historical 2020) · legal_authorities
18-28-219. Periods of limitation.
(a) The expiration, before or after July 30, 1999, of a period of limitation on the owner's right to receive or recover property, whether specified by contract, statute, or court order, does not preclude the property from being presumed abandoned or affect a duty to file a report or to pay or deliver or transfer property to the administrator as required by this subchapter.
(b) An action or proceeding may not be maintained by the administrator to enforce this subchapter in regard to the reporting, delivery, or payment of property more than ten (10) years after the holder specifically identified the property in a report filed with the administrator or gave express notice to the administrator of a dispute regarding the property. In the absence of such a report or other express notice, the period of limitation is tolled. The period of limitation is also tolled by the filing of a report that is fraudulent.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-28-219
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 18-28-219. This identifies an authority to review, not proof of applicability.