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§ 1301.10a. Notice given by holder

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: September 12, 2016

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 72 P.S. Taxation and Fiscal Affairs
Chapter 1. The Fiscal Code (Refs & Annos)
Article XIII.1. Disposition of Abandoned and Unclaimed Property (Refs & Annos)
Effective: September 12, 2016
72 P.S. § 1301.10a
§ 1301.10a. Notice given by holder
Currentness
(a) The holder of property presumed abandoned shall send notice to the owner, not more than one hundred twenty (120) days nor less than sixty (60) days prior to the date in which the corresponding report is to be submitted to the State Treasurer, stating that the holder is in possession of property subject to this article, if:
1. the holder of property has in its records an address for the owner which the holder's records do not disclose to be inaccurate; and
2. the value of the property is fifty dollars ($50) or more.
(b) Written notice shall be sent by first class mail, unless the owner has previously agreed to a method of electronic notice that remains valid to contact the owner, and include:
1. A description of the property.
2. A description of the property ownership.
3. The value of the property, if known.
4. Any information necessary to contact the holder to prevent the reporting of the property to the State Treasurer.
(c) In addition to the notice required under subsection (a), the holder of property may give additional notice at any time between the date of last activity by or communication with the owner of the property and the date the holder transfers the property to the custody and control of the State Treasurer.
(d) In addition to the verification required under section 1301.11, the holder of property shall include an affirmation of compliance with subsection (a).
(e) No cost or fee shall be imposed upon an owner associated with any notice under this section.

Credits

1929, April 9, P.L. 343, No. 176, art. XIII.1, § 1301.10a, added 2016, July 13, P.L. 664, No. 85, § 5, effective in 60 days [Sept. 12, 2016].
72 P.S. § 1301.10a, PA ST 72 P.S. § 1301.10a
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document