This article shall be known and may be cited as the “Disposition of Unclaimed Property Act.” History. Code 1981, § 44-12-190 , enacted by Ga. L. 1990, p. 1506, § 1. Law reviews. For note analyzing Georgia’s disposition of Unclaimed Property Act, see 24 Mercer L. Rev. 505 (1973). For annual survey article discussing commercial […]
This article shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it. History. Code 1981, § 44-12-191 , enacted by Ga. L. 1990, p. 1506, § 1.
As used in this article, the term: “Apparent owner” means the person whose name appears on the records of the holder as the person entitled to property held, issued, or owing by the holder. “Banking organization” means a bank, trust company, savings bank, industrial bank, land bank, safe-deposit company, private banker, or any other organization […]
Except as provided in Article 17B of Title 10, all tangible and intangible property, including any income or increment thereon, less any lawful charges, that is held, issued, or owing in the ordinary course of the holder’s business and has remained unclaimed by the owner for more than five years after it became payable or […]
Unless otherwise provided in this article or by any other provision of law, intangible property is subject to the custody of this state as unclaimed property if the conditions leading to a presumption of abandonment as described in Code Section 44-12-193 are satisfied and: The last known address, as shown on the records of the […]
Except as otherwise provided in this Code section, any sum payable on a traveler’s check that has been outstanding for more than 15 years after its issuance is presumed abandoned unless the owner, within 15 years, has communicated in writing with the issuer concerning it or otherwise indicated an interest as evidenced by a memorandum […]
Any sum payable on a check, draft, or similar instrument, except money orders, traveler’s checks, and other similar instruments subject to Code Section 44-12-195, on which a banking or financial organization is directly liable, including but not limited to, cashier’s checks and certified checks, which has been outstanding for more than five years after it […]
Any demand, savings, or matured time deposit with a banking or financial organization, including deposits that are automatically renewable, and any funds paid toward the purchase of a share, a mutual investment certificate, or any other interest in a banking or financial organization is presumed abandoned unless the owner, within five years, has: In the […]
Funds held or owing under any life or endowment insurance policy or annuity contract which has matured or terminated are presumed abandoned if unclaimed for more than five years after the funds became due and payable as established from the records of the insurance company holding or owing the funds, except that property described in […]
The following funds held or owing by any utility are presumed abandoned: Any deposit made by a subscriber with a utility to secure payment for or any sum paid in advance for utility services to be furnished in this state, less any lawful deductions, that has remained unclaimed by the person appearing on the records […]
Except to the extent otherwise ordered by a court or administrative agency of competent jurisdiction, any sum that a business association has been ordered to refund by a court or administrative agency which has remained unclaimed by the owner for more than five years after it became payable in accordance with the final determination or […]
Pursuant to Code Section 44-12-193, any dividend, profit, distribution, interest, payment on principal, or other sum held or owing by a business association for or to its shareholder, certificate holder, member, bondholder, or other security holder, or a participating patron of a cooperative, who has not claimed it, corresponded in writing concerning it, or otherwise […]
All property distributable in the course of a voluntary or involuntary dissolution or liquidation of a person that remains unclaimed by the person entitled thereto, within one year after the date of final distribution or liquidation, shall be presumed abandoned. History. Code 1981, § 44-12-202 , enacted by Ga. L. 1990, p. 1506, § 1; […]
Intangible property and any income or increment derived therefrom held in a fiduciary capacity for the benefit of another person is presumed abandoned unless the owner, within five years after it has become payable or distributable, has increased or decreased the principal, accepted payment of principal or income, communicated concerning the property, or otherwise indicated […]
All intangible property held for the owner by any state or federal court, government, governmental subdivision or agency, public corporation, or public authority which remains unclaimed by the owner for more than five years after becoming payable or distributable is presumed abandoned. History. Code 1981, § 44-12-204 , enacted by Ga. L. 1990, p. 1506, […]
A gift certificate or a credit memo issued in the ordinary course of an issuer’s business which remains unclaimed by the owner for more than five years after becoming payable or distributable is presumed abandoned. In the case of a gift certificate, the amount presumed abandoned is the price paid by the purchaser for the […]
Unpaid wages, including wages represented by unpresented payroll checks owing in the ordinary course of the holder’s business, that have remained unclaimed by the owner for more than one year after becoming payable are presumed abandoned. History. Code 1981, § 44-12-206 , enacted by Ga. L. 1990, p. 1506, § 1; Ga. L. 1992, p. […]
All employee benefit trust distributions and any income or other increment thereon are abandoned to this state under the provisions of this article if the owner has not, within five years after it becomes payable or distributable, accepted such distribution, corresponded in writing concerning such distribution, or otherwise indicated an interest as evidenced by a […]
Any funds held or owing by a fire, casualty, or any other insurer or surety as defined in Title 33 or a hospital, medical, or dental service corporation organized under Title 31 that are due and payable, as established from the records of the insurer or surety either to an insured, a principal, or other […]
If the rental due on a safe-deposit box has not been paid for one year, the lessor shall send a notice by registered mail or statutory overnight delivery to the last known address of the lessee stating that the safe-deposit box will be opened and its contents stored at the expense of the lessee unless […]
