If the State Treasurer determines after investigation that any property delivered under the Uniform Unclaimed Property Act has insubstantial commercial value, the State Treasurer may destroy or otherwise dispose of the property at any time as long as reasonable notice has been given to the holder. No action or proceeding may be maintained against the state or any officer or against the holder for or on account of any action taken by the State Treasurer pursuant to this section.

Added by Laws 1991, HB 1538, c. 331, § 33, eff. September 1, 1991; Amended by Laws 1999, SB 659, c. 10, § 25, eff. July 1, 1999 (superseded document available).