Alabama § 35-12-86 - Election to Take Payment or Delivery.
Full text of Alabama Code of Alabama § 35-12-86 — Election to Take Payment or Delivery., with citation guidance and answers to common questions.
§ 35-12-86. Election to Take Payment or Delivery.
(a) The Treasurer may decline to receive property reported under this article which the Treasurer considers to have a value less than the expenses of notice and sale.
(b) A holder, with the written consent of the Treasurer and upon conditions and terms prescribed by the Treasurer, may report and deliver property before the property is presumed abandoned. A holder exempt from reporting, upon conditions and terms prescribed by the Treasurer, may voluntarily report. Property delivered under this section is deemed abandoned upon receipt by the Treasurer and shall be handled in the same manner as other abandoned property under this article.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 35-12-86
What does Code of Alabama § 35-12-86 cover?
Section 35-12-86 ("Election to Take Payment or Delivery.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 35-12-86?
A common citation format is "Code of Alabama § 35-12-86" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 35-12-86 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.