(1) (a) A collecting institution wishing to perfect title in any reposited materials held by it shall send, by registered mail, a notice containing the information required by Subsection (2) to the last- known address of the last-known owner of the property. (b) In addition to the requirements of Subsection (1)(a), a collecting institution shall publish a notice containing the information required by Subsection (2) if: (i) the owner or the address of the owner of the reposited materials is unknown; (ii) the mailed notice is returned to the collecting institution without a forwarding address; or (iii) the owner does not claim the reposited materials within 90 days after the day on which the notice was mailed. (c) If required to publish a notice under Subsection (1)(b), the collecting institution shall publish the notice for two weeks: (i) for the county where the collecting institution is located, as a class A notice under Section 63G-30-102; and (ii) as required in Section 45-1-101. (2) Each notice required by this section shall include: (a) the name, if known, and the last-known address, if any, of the last-known owner of the reposited materials; (b) a description of the reposited materials; (c) the name of the collecting institution that has possession of the reposited materials and a person within that institution whom the owner may contact; and (d) a statement that if the reposited materials are not claimed within 90 days from the day on which the notice is published in accordance with Subsection (1)(b), the reposited materials are considered abandoned and become the property of the collecting institution. (3) If no one claims reposited materials within 90 days after the day on which notice is published in accordance with Subsection (1)(b), the reposited materials are considered abandoned and are the property of the collecting institution.
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