1. In property law, the date at which an unclaimed
security or other
property is turned over to the state in which the last known
owner was last known to reside. See also:
Escheat.
2. The date a
discount, sale, or other especially lowered
price on a product or products expires.
3. The last day of a month in which a
bank calculates the
activity on its accounts. For example, if the cut off date is the fifteenth of the month, the bank calculates its accounts' activities from the fifteenth of one month to the fifteenth of the next. Statements are based on activities between cut off dates.