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Escheatment |
Also found in: Dictionary/thesaurus, Legal, Wikipedia, Hutchinson | 0.03 sec. |
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Escheatment The process of turning over unclaimed or abandoned property to a state authority. Escheatment laws require mutual funds to turn over uncashed or returned check dollars and/or client account fund shares if the owner cannot be located within a length of time determined by each state. |
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? Mentioned in | ? References in periodicals archive | |
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| In a situation where the Holder's books and records do not reflect the name and last known address of the owner, or the jurisdiction does not provide for the escheatment of the particular property type (in the case where the owner's information is available), the court concluded that the property must be relinquished to the Holder's jurisdiction of incorporation. 0 also includes a new check management module featuring browser-requested stops, voids, re-issues, payment status and escheatment of paper payments. In fact, such legislation had already been proposed as the Equitable Escheatment Act. |
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Escheatment
