(a) Except as otherwise provided in AS 34.45.120 — 34.45.780, all intangible property, including income or increment derived from the property, less lawful charges, that is held, issued, or owing in the ordinary course of a holder's business and has remained unclaimed by the owner for more than three years after becoming payable or distributable is presumed abandoned.
(b) Property is payable or distributable for the purposes of AS 34.45.120 — 34.45.780 even if the owner failed to demand the property or to present an instrument or document required to receive payment of the property.