Title 44, Chapter 12, Section 192
As used in this article, the term:
(1) "Apparent owner" means the person whose name appears on the
records of the holder as the person entitled to property held,
issued, or owing by the holder.
(2) "Banking organization" means a bank, trust company, savings
bank, industrial bank, land bank, safe-deposit company, private
banker, or any other organization defined by federal law or the
law of another state as a bank or banking organization.
(3) "Business association" means any corporation, other than a
public corporation, a joint-stock company, an investment company,
a business trust, or a partnership or association for business
purposes of two or more individuals whether or not for profit,
including a banking organization, financial organization,
insurance company, or utility.
(4) "Commissioner" means the commissioner of revenue.
(5) "Domicile" means the state of incorporation, in the case of a
corporation incorporated under the laws of a state, and the state
of the principal place of business, in the case of a person not
incorporated under the laws of a state.
(6) "Due diligence" means, but shall not be limited to, the
mailing of a letter by first-class mail to the last known address
of the owner as indicated on the records of the holder.
(7) "Financial organization" means any savings and loan
association, cooperative bank, building and loan association, or
(8) "Holder" means a person, wherever organized or domiciled, who
(A) In possession of property belonging to another;
(B) A trustee in case of a trust; or
(C) Indebted to another on an obligation.
(9) "Insurance company" means an association, corporation, or
fraternal or mutual benefit organization, whether or not for
profit, which is engaged in providing insurance coverage of any
(10) "Intangible property" means and includes:
(A) Moneys, checks, drafts, deposits, interest, dividends, and
(B) Credit balances, customer overpayments, gift certificates,
security deposits, refunds, credit memos, unpaid wages, and
(C) Stocks and other intangible ownership interests in business
(D) Moneys deposited to redeem stocks, bonds, coupons, and other
securities or to make distributions;
(E) Amounts due and payable under the terms of insurance
(F) Amounts distributable from a trust or custodial fund
established under a plan to provide health, welfare, pension,
vacation, severance, retirement, death, stock purchase, profit
sharing, employee savings, supplemental unemployment insurance,
or similar benefits.
(11) "Last known address" means a description of the location of
the apparent owner sufficient for the purpose of the delivery of
(12) "Owner" means a depositor in the case of a deposit, a
beneficiary in the case of a trust other than a deposit in trust,
a creditor, claimant, or payee in the case of other intangible
property, or a person having a legal or equitable interest in
property subject to this article or his legal representative.
(13) "Payable" means the earliest date upon which the owner of
property could become entitled to the payments, possession,
delivery, or distribution of such property from a holder.
(14) "Person" means an individual, business association,
government, governmental subdivision or agency, public
corporation, public authority, estate, trust, two or more persons
having a joint or common interest, or any other legal or
(15) "State" means any state, district, commonwealth, territory,
insular possession, or any other area subject to the authority of
the United States.
(16) "Utility" means a person who owns or operates for public use
any plant, equipment, property, franchise, or license for the
transmission of communications or the production, storage,
transmission, sale, delivery, or furnishing of electricity, water,
steam, or gas.