If the administrator determines after investigation that property delivered under the Uniform Unclaimed Property Act (1995) has no substantial commercial value, the administrator may destroy or otherwise dispose of the property at any time. An action or proceeding may not be maintained against the state or any officer or against the holder for or on account of an act of the administrator under this section, except for intentional misconduct or malfeasance.
§ 7-8A-18 NMSA 1978
Destruction or disposition of property having no substantial commercial value; immunity from liability
Known as the Uniform Unclaimed Property Act
The act spans §§ 7–7 (32 sections).
Laws 1997, ch. 25, § 18.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.