Nevada § 120A.530 - Rules for taking custody

§ 120A.530. Rules for taking custody

1. Except as otherwise provided in this chapter or by other statute of this State,

property that is presumed abandoned, whether located in this or another state, is

subject to the custody of this State if: (a) The last known address of the apparent owner, as shown on the records of the holder,

is in this State; (b) The records of the holder do not reflect the identity of the person entitled to

the property and it is established that the last known address of the person entitled

to the property is in this State; (c) The records of the holder do not reflect the last known address of the apparent

owner and it is established that: (1) The last known address of the person entitled to the property is in this State;

or (2) The holder is domiciled in this State or is a government or governmental subdivision,

agency or instrumentality of this State and has not previously paid or delivered the

property to the state of the last known address of the apparent owner or other person

entitled to the property; (d) The last known address of the apparent owner, as shown on the records of the holder,

is in a state that does not provide for the escheat or custodial taking of the property

and the holder is domiciled in this State or is a government or governmental subdivision,

agency or instrumentality of this State; (e) The last known address of the apparent owner, as shown on the records of the holder,

is in a foreign country and the holder is domiciled in this State or is a government

or governmental subdivision, agency or instrumentality of this State; (f) The transaction out of which the property arose occurred in this State, the holder

is domiciled in a state that does not provide for the escheat or custodial taking

of the property and the last known address of the apparent owner or other person entitled

to the property is unknown or is in a state that does not provide for the escheat

or custodial taking of the property; or (g) The property is a traveler's check or money order purchased in this State or the

issuer of the traveler's check or money order has its principal place of business

in this State and the issuer's records show that the instrument was purchased in a

state that does not provide for the escheat or custodial taking of the property or

do not show the state in which the instrument was purchased. 2. For the purposes of this section: (a) If a holder's state of domicile has changed since the time the property was presumed

abandoned, the holder's state of domicile is deemed to be the state where the holder

was domiciled at the time the property was presumed abandoned. (b) The last known address of the apparent owner of a life or endowment insurance

policy or annuity contract or its proceeds is presumed to be the address of the insured

or annuitant if a person other than the insured or annuitant is entitled to the amount

owed under the policy or contract and the address of the other person is not known

by the insurance company and cannot be determined pursuant to this section. (c) The address of the owner of property where ownership vests in a beneficiary upon

the death of the owner, other than property described in paragraph (b), is presumed

to be the address of the deceased owner if the address of the beneficiary is not known

by the holder and cannot be determined pursuant to this section. (d) Except as otherwise provided in paragraph (e), if the records of a holder reflect

multiple addresses for an apparent owner and this State is the state of the most recently

recorded address, this State may take custody of the property presumed abandoned,

whether located in this State or another state. (e) If it appears from the records of a holder that the most recently recorded address

of the apparent owner is a temporary address and this State is the state of the next

most recently recorded address that is not a temporary address, this State may take

custody of the property presumed abandoned.