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Rule: 42.38.103 Prev     Up     Next    
Rule Title: DEFINITIONS
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Department: REVENUE
Chapter: UNCLAIMED PROPERTY
Subchapter: General Provisions
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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42.38.103    DEFINITIONS

The following definitions apply to this chapter:

(1) "Finder" means an individual, company, or corporation that locates owners of unclaimed property and assists them in retrieving the property for a fee or commission.

(2) "Holder" has the meaning given in 70-9-802, MCA, and includes, but is not limited to, financial institutions, corporations, partnerships, limited liability companies, cooperatives, business associations, courts, governmental entities, and political subdivisions.

(3) "Memorandum" means, but is not limited to, the following:

(a) a confirmation letter or card signed by the owner;

(b) a personal letter or inquiry from the owner;

(c) a note in the holder's file that the owner discussed the account or property with the holder or holder's employee in person or by telephone; or

(d) a written or verbal communication (evidenced by a note in the holder's file) between the holder and the owner of multiple accounts regarding knowledge of all accounts, active and dormant, that generate regular statements or notices to the owner.

History: 70-9-828, MCA; IMP, 70-9-801, 70-9-802, 70-9-803, MCA; NEW, Eff. 12/31/72; AMD, Eff. 7/5/75; AMD, 1998 MAR p. 2511, Eff. 9/11/98; AMD, 2015 MAR p. 2036, Eff. 11/13/15.


 

 
MAR Notices Effective From Effective To History Notes
42-2-933 11/13/2015 Current History: 70-9-828, MCA; IMP, 70-9-801, 70-9-802, 70-9-803, MCA; NEW, Eff. 12/31/72; AMD, Eff. 7/5/75; AMD, 1998 MAR p. 2511, Eff. 9/11/98; AMD, 2015 MAR p. 2036, Eff. 11/13/15.
9/11/1998 11/13/2015 History: Sec. 70-9-828, MCA; IMP, Sec. 70-9-802 and 70-9-803, MCA; NEW, Eff. 12/31/72; AMD, Eff. 7/5/75; AMD, 1998 MAR p. 2511, Eff. 9/11/98.
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