NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-8A-18
7-8A-18
Official textnmonesource.comlast amended
Destruction or disposition of property having no substantial commercial value; immunity from liability.
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.
Amendment history
Laws 1997, ch. 25, § 18.
Source: official source (NMSA chapter on nmonesource.com)
In this article (32 sections)
- 7-8A-1 · Definitions
- 7-8A-2 · Presumptions of abandonment
- 7-8A-3 · 7-8A-3
- 7-8A-4 · Rules for taking custody
- 7-8A-5 · Dormancy charge
- 7-8A-6 · 7-8A-6
- 7-8A-7 · Report of abandoned property
- 7-8A-8 · Payment or delivery of abandoned property
- 7-8A-9 · Notice and publication of lists of abandoned property
- 7-8A-10 · Custody by state; recovery by holder; defense of holder
- 7-8A-10.1 · Exercise of due diligence; liability; notice
- 7-8A-11 · 7-8A-11
- 7-8A-12 · Public sale of abandoned property
- 7-8A-13 · Deposit of funds
- 7-8A-14 · Claim of another state to recover property
- 7-8A-15 · 7-8A-15
- 7-8A-16 · Appeal; action to establish claim
- 7-8A-17 · Election to take payment or delivery
- 7-8A-18 · 7-8A-18
- 7-8A-19 · Periods of limitation
- 7-8A-20 · Requests for reports and examination of records
- 7-8A-21 · Retention of records
- 7-8A-22 · Enforcement
- 7-8A-23 · 7-8A-23
- 7-8A-24 · Interest and penalties
- 7-8A-25 · Agreement to locate property
- 7-8A-26 · Foreign transactions
- 7-8A-27 · Transitional provisions
- 7-8A-28 · Rules
- 7-8A-29 · Uniformity of application and construction
- 7-8A-30 · Short title
- 7-8A-31 · Severability clause