1. 1. Report by holder A holder of property presumed abandoned and subject to the custody of the administrator shall report in a record to the administrator concerning the property in a format approved by the administrator.

   [PL 2019, c. 498, §22 (NEW).]

2. 2. Contract with 3rd party A holder may contract with a 3rd party to make the report required under subsection 1.

   [PL 2019, c. 498, §22 (NEW).]

3. 3. Responsibilities of holder Whether or not a holder contracts with a 3rd party under subsection 2, the holder is responsible:

   1. A. To the administrator for the complete, accurate and timely reporting of property presumed abandoned; and

      [PL 2019, c. 498, §22 (NEW).]

   2. B. For paying or delivering to the administrator property described in the report.

      [PL 2019, c. 498, §22 (NEW).]

   [PL 2019, c. 498, §22 (NEW).]

PL 2019, c. 498, §22 (NEW).