Subject to the provisions of Section 89-12-17, any intangible personal property and any income or increment thereon, held in a fiduciary capacity for the benefit of another person shall be presumed abandoned unless the owner has, within five (5) years after it became payable or distributable, increased or decreased the principal, accepted payment of principal or income, corresponded in writing concerning the property or otherwise indicated an interest as evidenced by a memorandum or other record on file with the fiduciary.
Miss. Code Ann. § 89-12-13
Presumed abandonment of intangible personal property held by fiduciary
Known as the Uniform Disposition of Unclaimed Property Act
The act spans §§ 89–89 (33 sections).
Laws, 1982, ch. 497, § 7; Laws, 1991, ch. 451, § 6, eff from and after July 1, 1991.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.