(a)
(1) Whenever any person shall be required to deposit security for the payment of damages arising out of a motor vehicle accident as described in this chapter and the requirement for the depositing of the security is terminated, the Office of Driver Services shall, by ordinary mail at his or her last known address, notify the person within ninety (90) days that he or she may claim the deposit.
(2)
(A) If the person fails to claim the deposit within five (5) years from the date of the termination of the requirement for the deposit of the security, then the amount so deposited shall be forfeited to the State of Arkansas.
(B) Any and all amounts forfeited shall be deposited into the State Treasury to the credit of the General Revenue Fund Account of the State Apportionment Fund.
(3) Not less than ninety (90) days before the expiration of the five-year period, the office shall notify the owner of the deposit by certified or registered mail at his or her last known address that unless he or she claims the deposit within ninety (90) days, it shall be forfeited to the state.
(b) If any person whose deposit of security is forfeited pursuant to this section makes request therefor and furnishes to the office satisfactory proof that he or she was an active member of the United States Armed Forces at the time of the forfeiture, the office shall by memorandum so notify the Auditor of State, and the amount of the forfeited deposit shall be paid to the depositor upon voucher and warrant drawn upon and payable from any funds appropriated for miscellaneous tax refunds.
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