§161. Notice and publication of lists of abandoned property

            A. The administrator shall cause a notice to be published not later than November thirtieth of the year following the year in which abandoned property has been paid or delivered to the administrator. The notice shall be published in a newspaper of general circulation in the parish of this state in which is located the last known address of any person named in the notice. If a holder does not report an address for the apparent owner, or the address is outside this state, the notice shall be published in the parish in which the holder has its principal place of business within this state or another parish that the administrator reasonably selects. The advertisement shall be in a form that, in the judgment of the administrator, is likely to attract the attention of the apparent owner of the unclaimed property. The form shall contain the following information:

            (1) The name of each person appearing to be the owner of the property, as set forth in the report filed by the holder.

            (2) The last known address or location of each person appearing to be the owner of the property, if an address or location is set forth in the report filed by the holder.

            (3) A statement explaining that property of the owner is presumed to be abandoned and has been taken into the protective custody of the administrator.

            (4) A statement that information about the property and its return to the owner is available to a person having a legal or beneficial interest in the property, upon request to the administrator.

            B. The administrator is not required to advertise the name and address or location of an owner of property having a total value less than one hundred dollars, or information concerning a traveler's check, money order, or similar written instrument.

            C. The administrator shall, not less than thirty days prior to any notice of unclaimed property being published in any newspaper, mail each legislator a list of the names and addresses of all unclaimed property owners by parish of last known residence for the parishes in the legislator's district and the amount of property unclaimed. The administrator shall not send any written communication to any unclaimed property owner until thirty days following the notice required by this Subsection.

            Acts 1986, No. 829, §1, eff. July 10, 1986; Acts 1997, No. 809, §1, eff. July 10, 1997; Acts 2000, 1st Ex. Sess., No. 135, §5, eff. July 1, 2000; Acts 2020, No. 156, §1.