(a)

1. (1) The Arkansas Unclaimed Property Program is one (1) element of the state’s consumer protection initiatives.
2. (2) It allows lost or abandoned property to be collected in a single, neutral location for the convenience of the owner, and makes it possible for the state to better protect the interests of property owners.

(b) It is the intent of the Auditor of State to enforce and administer the Arkansas Unclaimed Property Program so that property presumed abandoned thereunder is:

1. (1) Properly reported to the state;
2. (2) Collected and held in trust by the state; and
3. (3) Returned to its rightful owner or owners through an efficient and secure claims process.