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40.0509 Judgment of escheat.

Cite as [A.S.C.A. § 40.0509]

(a) The High Court, by its judgment, may determine the title to such personal property, and where the Court finds that such personal property, in whole or in part, has escheated to the Territory, the judgment must so declare, and such personal property shall thereupon escheat to the Territory.

(b) Upon timely application in the cause by the person having such property in his possession, the High Court, by said judgment, may further provide that such items of personal property without substance or value that otherwise would escheat to the Territory, but which are not taken by the Territory in such escheat proceedings by reason of the worthless nature of such items may, after the 2 years from the date of filing of such judgment, be abandoned of destroyed by the person having possession of the same.

History: 1988, PL 20-64.