Section 1417. Agreements with other states  


Latest version.
  •  1. The state comptroller is
      authorized to enter into reciprocal agreements with appropriate officers
      or agencies of other states to effectuate the purposes of this chapter.
        2. Reciprocal agreements entered into pursuant  to  this  section  may
      include within their terms:
        (a)  agreement  to  receive  and distribute abandoned property between
      agreeing states, in accordance with existing law, and the manner of such
      distribution;
        (b) agreements for cooperation between agreeing states, including  the
      exchange  of  information  and  data and use of personnel, in performing
      audits and other functions relating to  securing  compliance  with  this
      chapter and the applicable statutes of the agreeing states by holders of
      unclaimed property.
        3. (a) For purposes of this section the term "states" shall mean those
      states,  the  district  of Columbia and the commonwealth of Puerto Rico,
      which have  enacted  laws  relating  to  the  disposition  of  unclaimed
      property  and  such  laws  require  that the property be held thereby in
      custody subject to claim by the person or persons  entitled  thereto  at
      any time.
        (b)  For  purposes  of  this  section  the phrase "existing law" shall
      include within its meaning decisions of the supreme court of the  United
      States.
        4.  No  reciprocal  agreement  made pursuant to the provisions of this
      section shall become effective until approved as to form by the attorney
      general (of each agreeing state).