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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-8A-27

Transitional provisions

Official textnmonesource.comlast amended

# (a)

An initial report filed under the Uniform Unclaimed Property Act (1995) for property that was not required to be reported before the effective date of that act, but which is subject to that act, must include all items of property that would have been presumed abandoned during the ten-year period next preceding the effective date of the Uniform Unclaimed Property Act (1995) as if that act had been in effect during that period.

# (b)

The Uniform Unclaimed Property Act (1995) does not relieve a holder of a duty that arose before the effective date of that act to report, pay or deliver property. Except as otherwise provided in Section 19(b) [7-8A-19(b) NMSA 1978] of the Uniform Unclaimed Property Act (1995), a holder who did not comply with the law in effect before the effective date of that act is subject to the applicable provisions for enforcement and penalties which then existed, which are continued in effect for the purpose of this section.

Amendment history

Laws 1997, ch. 25, § 27.

Source: official source (NMSA chapter on nmonesource.com)

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In this article (32 sections)
  1. 7-8A-1 · Definitions
  2. 7-8A-2 · Presumptions of abandonment
  3. 7-8A-3 · 7-8A-3
  4. 7-8A-4 · Rules for taking custody
  5. 7-8A-5 · Dormancy charge
  6. 7-8A-6 · 7-8A-6
  7. 7-8A-7 · Report of abandoned property
  8. 7-8A-8 · Payment or delivery of abandoned property
  9. 7-8A-9 · Notice and publication of lists of abandoned property
  10. 7-8A-10 · Custody by state; recovery by holder; defense of holder
  11. 7-8A-10.1 · Exercise of due diligence; liability; notice
  12. 7-8A-11 · 7-8A-11
  13. 7-8A-12 · Public sale of abandoned property
  14. 7-8A-13 · Deposit of funds
  15. 7-8A-14 · Claim of another state to recover property
  16. 7-8A-15 · 7-8A-15
  17. 7-8A-16 · Appeal; action to establish claim
  18. 7-8A-17 · Election to take payment or delivery
  19. 7-8A-18 · 7-8A-18
  20. 7-8A-19 · Periods of limitation
  21. 7-8A-20 · Requests for reports and examination of records
  22. 7-8A-21 · Retention of records
  23. 7-8A-22 · Enforcement
  24. 7-8A-23 · 7-8A-23
  25. 7-8A-24 · Interest and penalties
  26. 7-8A-25 · Agreement to locate property
  27. 7-8A-26 · Foreign transactions
  28. 7-8A-27 · Transitional provisions
  29. 7-8A-28 · Rules
  30. 7-8A-29 · Uniformity of application and construction
  31. 7-8A-30 · Short title
  32. 7-8A-31 · Severability clause
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