Nevada § 120A.570 - Payment or delivery of abandoned property

§ 120A.570. Payment or delivery of abandoned property

1. Except for property held in a safe-deposit box or other safekeeping depository,

upon filing the report required by NRS 120A.560 , the holder of property presumed abandoned shall pay, deliver or cause to be paid

or delivered to the Administrator the property described in the report as unclaimed,

but if the property is an automatically renewable deposit, and a penalty or forfeiture

in the payment of interest would result, the time for compliance is extended until

a penalty or forfeiture would no longer result. Tangible property held in a safe-deposit box or other safekeeping depository must

be delivered to the Administrator within 60 days after filing the report required

by NRS 120A.560 . 2. If the property reported to the Administrator is a security or security entitlement

under NRS 104.8101 to 104.8511 , inclusive, the Administrator is an appropriate person to make an endorsement, instruction

or entitlement order on behalf of the apparent owner to invoke the duty of the issuer

or its transfer agent or the securities intermediary to transfer or dispose of the

security or the security entitlement in accordance with NRS 104.8101 to 104.8511 , inclusive. 3. If the holder of property reported to the Administrator is the issuer of a certificated

security, the Administrator has the right to obtain a replacement certificate pursuant

to NRS 104.8405 , but an indemnity bond is not required. 4. An issuer, the holder and any transfer agent or other person acting pursuant to

the instructions of and on behalf of the issuer or holder in accordance with this

section is not liable to the apparent owner and must be indemnified against claims

of any person in accordance with NRS 120A.590 .