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Unclaimed Property
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Does the State simply go in and take the money?
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Answer:
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No. Unclaimed property is turned over to the State Treasurer, after the following have occurred:
- There has been no owner-generated activity in the account for a specific
amount of time as identified in the list of dormancy periods that can be found
in Appendix A of the
Manual for
Reporting Unclaimed Property.
- Attempts to contact the owner fail. If these attempts are unsuccessful, the money is turned over to the State Treasurer where the owner or the owner's heirs may claim it.
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