1. (1) The administrator shall publish a notice not later than November 30 of the year following the year in which abandoned property has been paid or delivered to the administrator. The notice must be published in a newspaper of general circulation in the county of this state in which is located the last-known address of any person named in the notice. If a holder does not report an address for the apparent owner or the address is outside this state, the notice must be published in the county in which the holder has its principal place of business within this state or another county that the administrator reasonably selects. The advertisement must be in a form that, in the judgment of the administrator, is likely to attract the attention of the apparent owner of the unclaimed property. The form must contain:

   1. (a) the name of each person appearing to be the owner of the property, as set forth in the report filed by the holder;
   2. (b) the last-known address or location of each person appearing to be the owner of the property, if an address or location is set forth in the report filed by the holder;
   3. (c) a statement explaining that property of the owner is presumed to be abandoned and has been taken into the protective custody of the administrator; and
   4. (d) a statement that information about the property and its return to the owner is available to a person having a legal or beneficial interest in the property, upon request to the administrator.
2. (2) The administrator is not required to advertise the name and address or location of an owner of property having a total value less than $50 or information concerning a traveler's check, money order, or similar instrument.

History: En. Sec. 10, Ch. 124, L. 1997.