70-9-102. Definitions. As used in parts 1 through 3, unless the context otherwise requires, the following definitions apply:
     (1) "Banking organization" means any bank, national bank, trust company, savings bank, industrial bank, land bank, safe deposit company, or private banker engaged in business in this state.
     (2) "Business association" means any corporation, other than a public corporation, joint-stock company, business trust, partnership, or any association for business purposes of two or more individuals.
     (3) "Department" means the department of revenue provided for in 2-15-1301.
     (4) "Financial organization" means any savings and loan association, building and loan association, credit union, cooperative bank, or investment company engaged in business in this state.
     (5) "Holder" means any person in possession of property subject to parts 1 through 3 belonging to another or who is trustee in case of a trust or is indebted to another on an obligation subject to parts 1 through 3.
     (6) "Intangible property" includes:
     (a) money, checks, drafts, deposits, interest, dividends, and income;
     (b) credit balances, customer overpayments, gift certificates, security deposits, refunds, credit memos, unpaid wages, unused airline tickets, and unidentified remittances;
     (c) stocks and other intangible ownership interests in business associations;
     (d) money deposited to redeem stocks, bonds, coupons, and other securities or to make distributions;
     (e) amounts due and payable under the terms of insurance policies; and
     (f) amounts distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefits.
     (7) "Last-known address" means a description, in the records of the holder, of the location of the apparent owner sufficient for the purpose of the delivery of mail.
     (8) "Life insurance corporation" means any association or corporation transacting within this state the business of insurance on the lives of persons or insurance appertaining thereto, including, but not by way of limitation, endowments and annuities.
     (9) "Owner" means a depositor in case of a deposit, a beneficiary in case of a trust, or a creditor, claimant, or payee in case of other choses in action or any person having a legal or equitable interest in property subject to parts 1 through 3 or his legal representative.
     (10) "Person" means any individual, business association, government or political subdivision, public corporation, public authority, estate, trust, two or more persons having a joint or common interest, or any other legal or commercial entity.
     (11) "Utility" means any person who owns or operates within this state for public use any plant, equipment, property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas.

     History: En. Sec. 1, Ch. 244, L. 1963; R.C.M. 1947, 67-2201; amd. Sec. 2, Ch. 269, L. 1983.