us-nm/stat
NMSA 1978, § 7-8A-7 — Report of abandoned property
A.
A holder of property presumed abandoned shall make a report to the
administrator concerning the property.
B.
The report must be verified and must contain:
(1) a description of the property;
(2) except with respect to a traveler's check or money order, the name, if
known, and last known address, if any, and the social security number or taxpayer
identification number, if readily ascertainable, of the apparent owner of property of the
value of fifty dollars ($50.00) or more;
(3) an aggregated amount of items valued under fifty dollars ($50.00) each;
(4) in the case of an amount of fifty dollars ($50.00) or more held or owing
under an annuity or a life or endowment insurance policy, the full name and last known
address of the annuitant or insured and of the beneficiary;
(5) in the case of property held in a safe deposit box or other safekeeping
depository, an indication of the place where it is held and where it may be inspected by
the administrator and any amounts owing to the holder;
(6) the date, if any, on which the property became payable, demandable or
returnable and the date of the last transaction with the apparent owner with respect to
the property; and
(7) other information that the administrator by rule prescribes as necessary for
the administration of the Uniform Unclaimed Property Act (1995).
C.
If a holder of property presumed abandoned is a successor to another person
who previously held the property for the apparent owner or the holder has changed its
name while holding the property, the holder shall file with the report its former names, if
any, and the known names and addresses of all previous holders of the property.
D.
The report must be filed before November 1 of each year and cover the twelve
months next preceding July 1 of that year, but a report with respect to a life insurance
company must be filed before May 1 of each year for the calendar year next preceding.
E.
A holder of more than twenty-five properties presumed abandoned shall report
the properties in an electronic media and in a format determined by the administrator to
be compatible with computer programming and equipment used by the administrator for
processing.
F.
The holder of property presumed abandoned shall send written notice to the
apparent owner, not more than one hundred twenty days or less than sixty days before
filing the report, stating that the holder is in possession of property subject to the
Uniform Unclaimed Property Act (1995), if:
(1) the holder has in its records an address for the apparent owner which the
holder's records do not disclose to be inaccurate;
(2) the claim of the apparent owner is not barred by a statute of limitations;
and
(3) the value of the property is fifty dollars ($50.00) or more.
G.
Before the date for filing the report, the holder of property presumed abandoned
may request the administrator to extend the time for filing the report. The administrator
may grant the extension for good cause. The holder, upon receipt of the extension, may
make an interim payment on the amount the holder estimates will ultimately be due,
which terminates the accrual of additional interest on the amount paid.
H.
The holder of property presumed abandoned shall file with the report an affidavit
stating that the holder has complied with Subsection F of this section.
Source: official text