Substituted for: House Bill No. 480

AN ACT To amend Tennessee Code Annotated, Title 66, Chapter 29, Part 1, relative to ascertaining the whereabouts of a property owner prior to the property being deemed abandoned under the Uniform Disposition of Unclaimed Property Act.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

SECTION 1. Tennessee Code Annotated, Title 66, Chapter 29, Part 1, is amended by adding a new section thereto as follows:

66-29-1____. Any holder of property not yet abandoned pursuant to this part may enter into such agreements as may be necessary to ascertain the whereabouts of the owner. Provided, however, no costs associated with such agreements shall be deducted from the property nor charged to the owner.

SECTION 2. This act shall take effect upon becoming a law, the public welfare requiring it.