Alabama Code (Last Updated: November 28, 2014) |
Title35 PROPERTY. |
Chapter12. LOST OR UNCLAIMED PROPERTY. |
Article2A. Uniform Disposition of Unclaimed Property Act of 2004. |
§35-12-73. Exemptions.
Latest version.
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(a) The following entities are exempt from reporting property under this article:
(1) Electric cooperatives organized under Chapters 6 and 7 of Title 37.
(2) Incorporated municipalities and incorporated municipal boards and county and county boards of this state.
(b) The following property is exempt from reporting under this article:
(1) A gift certificate, gift card, or in-store merchandise credit issued or maintained by any person engaged primarily in the business of selling tangible personal property at retail.
(2) Property held, due, and owing in a foreign country and arising out of a foreign transaction.