Section 33-21A-1. – Declaration of escheat.

§ 33-21A-1. Declaration of escheat. All postal savings system accounts created by the deposits of persons whose last known addresses are in this state which have not been claimed by the persons entitled thereto before May 1, 1971, are presumed to have been abandoned by their owners and are declared to escheat and become the […]

Section 33-21A-2. – Obtaining information on accounts.

§ 33-21A-2. Obtaining information on accounts. The general treasurer shall request from the bureau of accounts of the United States treasury department records providing the following information: the names of depositors at the post offices of this state whose accounts are unclaimed, their last addresses as shown by the records of the United States postal […]

Section 33-21A-3. – Proceeding to adjudicate escheat.

§ 33-21A-3. Proceeding to adjudicate escheat. (a) The general treasurer may bring proceedings in the superior court for Providence and Bristol counties to escheat unclaimed postal savings system accounts held by the United States treasury department. A single proceeding may be used to escheat as many accounts as may be available for escheat at one […]

Section 33-21A-4. – Notice.

§ 33-21A-4. Notice. The general treasurer shall notify depositors whose accounts are to be escheated as follows: (1) A letter advising that a postal savings system account in the name of the addressee is about to be escheated and setting forth the procedure by which a deposit may be claimed shall be mailed by first […]

Section 33-21A-5. – Collection and deposit of funds.

§ 33-21A-5. Collection and deposit of funds. The general treasurer shall present a copy of each final judgment of escheat to the United States treasury department for payment of the principal due and the interest computed under regulations of the United States treasury department. The payment received shall be deposited in the general funds of […]

Section 33-21A-6. – Indemnification of the United States.

§ 33-21A-6. Indemnification of the United States. This state shall indemnify the United States for any losses suffered as a result of the escheat of unclaimed postal savings system accounts. The burden of indemnification falls upon the fund into which the proceeds of the escheated accounts have been paid. History of Section.P.L. 1971, ch. 28, […]

Section 33-21A-7. – Short title.

§ 33-21A-7. Short title. This act may be cited as the “Escheat of Postal Savings System Accounts Act”. History of Section.P.L. 1971, ch. 28, § 1.