1. (a) Thirty days after the death of a decedent, any person indebted to the decedent or having possession of tangible personal property or an instrument evidencing a debt, obligation, stock, or chose in action belonging to the decedent shall make payment of the indebtedness or deliver the tangible personal property or an instrument evidencing a debt, obligation, stock, or chose in action to a person claiming to be the successor of the decedent upon being presented an affidavit made by or on behalf of the successor stating that:
2. (1) The value of the entire estate, wherever located, less liens and encumbrances, does not exceed $100,000;
3. (2) Thirty days have elapsed since the death of the decedent;
4. (3) No application or petition for the appointment of a personal representative is pending or has been granted in any jurisdiction;
5. (4) The decedent has not incurred any indebtedness to the Department of Social Services for medical assistance for nursing home or other medical institutional care; and

6. (5) The claiming successor is entitled to payment or delivery of the property.

   1. (b) A transfer agent of any security shall change the registered ownership on the books of a corporation from the decedent to the successor or successors upon the presentation of an affidavit as provided in subsection (a).

Source: SL 1994, ch 232 , § 3-1201; SL 1995, ch 167 , § 136; SL 1997, ch 172 , § 1; SL 2002, ch 100 , § 26; SL 2003, ch 157 , § 1; SL 2022, ch 88 , § 1.