Title 12 — Banks and BankingRelease 119-73
§216 Purpose
Title 12 › Chapter CHAPTER 2— - NATIONAL BANKS › Subchapter SUBCHAPTER XVII— - DISPOSITION OF UNCLAIMED PROPERTY RECOVERED FROM CLOSED NATIONAL BANKS › § 216
Summary
Requires the Comptroller to dispose of unclaimed property he holds from closed national banks: send a last notice, bar claims after a reasonable time, and dispose of property with no claims.
Full Legal Text
Title 12, §216
Banks and Banking — Source: USLM XML via OLRC
The purpose of this subchapter is to dispose of unclaimed property in the possession, custody, or control of the Comptroller of the Currency by—
(1)providing final notice of the availability of unclaimed property from closed national banks;
(2)barring rights of claimants to obtain such property from the Comptroller after a reasonable period of time following such notice; and
(3)authorizing the Comptroller to dispose of such property for which no claims have been filed and validated under this subchapter.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
2006—Par. (1). Pub. L. 109–351 and 109–356 amended par. (1) identically, striking out “and closed banks in the District of Columbia” before semicolon at end.
Reference
Citations & Metadata
Citation
12 U.S.C. § 216
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73