§160.4. Administrator to provide an order or directive to liquidate digital assets

            A. Any order or directive issued by the administrator to require a holder of a digital asset to sell or liquidate shall be based upon at least one of the following:

            (1) The ability of the administrator to manage digital assets in their native form at the time the report is received.

            (2) Whether the reporting file format supports the receipt of digital assets in their native form.

            (3) Whether the database management system of the administrator supports digital assets in their native form.

            (4) Whether the costs of custody and administration of the reported digital assets in native form would exceed the value of the reported digital assets.

            B. Any order or directive issued by the administrator to a digital asset holder to liquidate or sell a digital asset shall include a summary of the factor or factors in Subsection A of this Section that led to the order or directive.

            C. The administrator shall not order or direct a holder to deliver the liquidated value of a digital asset presumed abandoned solely on the basis that the administrator does not have a designated custodian in place or a designated custodian is not yet operational.

            Acts 1986, No. 829, §1, eff. July 10, 1986; Acts 1997, No. 809, §1, eff. July 10, 1997; Acts 2026, No. 891, §1, eff. Jan. 1, 2027.