Alabama Unclaimed Property Dormancy Period
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A dormancy period is the statutory period of time without owner initiated contact or activity that must elapse before a state can consider a property dormant or abandoned.
Alabama unclaimed property dormancy period. Most property types in alabama have a dormancy period of three years. These assets may be in the form of cash stocks bonds insurance benefits or even valuables from safe deposit boxes. Unclaimed property includes billions in uncashed payroll checks stocks credit balances and more.
State treasurer young boozer is dedicated to the sound fiscal management of the. Each year unclaimed or abandoned assets are turned over to alabama unclaimed property by financial institutions and businesses that lose contact with the owners. No physical checks will be accepted.
Dormancy periods reporting software and resources to ensure business compliance. Welcome to alabama unclaimed property. Other dormancy periods in alabama for common property types include.
The state treasury is responsible for multiple state financial interests including unclaimed property cash management bonds the alabama trust fund and more. What are unclaimed property dormancy periods. Information contained in the naupa qrp states unclaimed property monitoring service is for informational and reference purposes only.
Once the dormancy period has elapsed the property is then eligible to be escheated to the appropriate state. Version categoriesunclaimed property download997 size12982 kb create dateoctober 6 2015 last updatedoctober 7 2015 fileactiondormancy period guide 2015 finalpdf download download. This information may not be copied or reproduced in any capacity without the express written consent of the national association of unclaimed property administrators.
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