1. The administrator shall pay or deliver property to a claimant under subsection 1 of section 47-30.2-50 if the administrator receives evidence sufficient to establish to the satisfaction of the administrator that the claimant is the owner of the property.
2. Not later than ninety days after a claim is filed under subsection 1 of section 47-30.2-50, the administrator shall allow or deny the claim and give the claimant notice in a record of the decision.
3. If the claim is denied under subsection 2:
a. The administrator shall inform the claimant of the reason for the denial and specify what additional evidence, if any, is required for the claim to be allowed;
b. The claimant may file an amended claim with the administrator or commence an action under section 47-30.2-53; and c. The administrator may consider an amended claim filed under subdivision b as an initial claim.