Title 3 — Title 3: State Elective Officers

Sec. 3-46. Reappraisal of securities. The Treasurer shall cause to be examined and reappraised all the real estate securities held by him at least once in five years, and for such purpose may appoint such persons as he chooses to make such examination and reappraisal; and, when i…

Sec. 3-47. Sale of real estate. The Treasurer may sell the real estate belonging to said funds; and he may sell at private or public sale, from time to time, all or any part of the real estate belonging to the state, acquired by deed or foreclosure of mortgage for the School Fund…

Sec. 3-48. National bank stock; Treasurer attorney for state. The Treasurer is appointed as the attorney of the state, with power of substitution, to consent upon its behalf that the articles of association of any national bank, in whose stock any portion of the School Fund or Ag…

Sec. 3-49. Debtor accounts. The Treasurer shall cause all debts due to the School Fund or the Agricultural College Fund, and all other property belonging to either of them, to be registered in books kept in his office, in which shall be opened an account with each debtor, showing…

Sec. 3-50. Agents to give certified copies of bonds. The Treasurer shall require all agents having bonds of said funds in their hands for collection to give him certified copies of the same. (1949 Rev., S. 142.)

Sec. 3-51. Annual schedule of assets. The Treasurer shall, annually, before the first day of December, prepare a complete schedule of all property and securities belonging to said funds on June thirtieth preceding and also an abstract thereof; and the Auditors of Public Accounts …

Sec. 3-52. Moneys paid on account. The Treasurer shall receive all moneys paid on account of said funds and give a receipt to each debtor making payment of principal or interest and keep separate accounts of the principal and interest so received. He shall pay over the same accor…

Sec. 3-53. Exhibition of claims against estates. When any person who has mortgaged property to the state for the benefit of either of said funds dies or becomes insolvent and a time is legally limited for the exhibition of claims against his estate, the executor, administrator or…

Sec. 3-54. Mortgagor's affidavit of title. When any person mortgages any real estate to this state for the benefit of either of said funds, he shall make and lodge with the Treasurer an affidavit that he is the absolute owner thereof and that it is free of all encumbrances within…

Sec. 3-55. Waste on mortgaged premises. If any person removes or injures any building or fixture on any land mortgaged to the state for the benefit of either of said funds or cuts or carries away any wood or timber from such land, except for necessary firewood for use on the prem…

Secs. 3-55a to 3-55h. Reserved for future use. PART IIa MASHANTUCKET PEQUOT AND MOHEGAN FUND

Sec. 3-55i. Mashantucket Pequot and Mohegan Fund. There is established the “Mashantucket Pequot and Mohegan Fund” which shall be a separate nonlapsing fund. All funds received by the state of Connecticut from the Mashantucket Pequot Tribe pursuant to the joint memorandum of under…

Sec. 3-55j. Payments from fund. (a) Twenty million dollars of the moneys available in the Mashantucket Pequot and Mohegan Fund established pursuant to section 3-55i shall be paid to municipalities eligible for a state grant in lieu of taxes pursuant to subsection (b) of section 1…

Sec. 3-55k. Municipality defined. As used in sections 3-55i and 3-55j, “municipality” means any town, consolidated town and city or consolidated town and borough. (May Sp. Sess. P.A. 94-1, S. 34, 53.) History: May Sp. Sess. P.A. 94-1 effective July 1, 1994.

Sec. 3-55l. Additional payments from fund to Ledyard, Montville, Norwich, North Stonington and Preston. (a) For the fiscal year ending June 30, 2006, the municipalities of Ledyard, Montville, Norwich, North Stonington and Preston shall each receive a grant of two hundred fifty th…

Sec. 3-55m. Additional payments from fund to certain member municipalities of Southeastern, Northeastern and Windham Area Councils of Governments. For the fiscal year ending June 30, 2008, and each fiscal year thereafter, one million six hundred thousand dollars of the appropriat…

Sec. 3-55n. Payments from fund to tribes. Notwithstanding the provisions of sections 3-55i and 3-55j and in addition to any payments made to towns from the Mashantucket Pequot and Mohegan Fund during the fiscal year ending June 30, 2024, for the fiscal year ending June 30, 2024, …

Sec. 3-56. Definitions. Section 3-56 is repealed. (1949 Rev., S. 148; 1949, S. 41d; 1961, P.A. 540, S. 31.)

Sec. 3-56a. Definitions. As used in this part, unless the context otherwise requires: (1) “Apparent owner” means the person whose name appears on the records of the holder as the person entitled to the property held, issued or owing by the holder; (2) “Banking organization” means…

Sec. 3-57. Escheat of property unclaimed or unused for seven years. Section 3-57 is repealed. (1949 Rev., S. 149; September, 1957, P.A. 11, S. 3; 1961, P.A. 540, S. 31.)

Sec. 3-57a. Property held by banking or financial organization presumed abandoned, when. (a) The following property held or owing by a banking or financial organization is presumed abandoned unless the owner thereof is known to be living by an officer of such organization: (1) An…

Sec. 3-57b. Virtual currency held by a business association or banking or financial organization presumed abandoned. Any virtual currency held by a business association, banking organization or financial organization that facilitates the purchase, storage or transfer of virtual c…

Sec. 3-58. Sale of escheated property. Section 3-58 is repealed. (1949 Rev., S. 150; 1961, P.A. 540, S. 31.)

Sec. 3-58a. Funds held by insurance company presumed abandoned, when. (a) Unclaimed funds held and owing by an insurance company shall be presumed abandoned if a person other than the insured or annuitant is entitled to the funds and no address of such person is known to the comp…

Sec. 3-59. Petition in case of interest in escheated property. Appeal. Section 3-59 is repealed. (1949 Rev., S. 151; 1949, S. 42d; 1961, P.A. 540, S. 31.)

Sec. 3-59a. Property held by a business association or payable in the course of demutualization of an insurance company presumed abandoned, when. (a) Any stock or other certificate of ownership, or any dividend, profit, distribution, interest, payment on principal, mineral procee…

Sec. 3-59b. Ownership interest in business association presumed abandoned, when. Any ownership interest in a business association, as defined in section 3-56a, as evidenced by the stock records or membership records of the business association, owned by a person who for more than…

Sec. 3-59c. Duties of holder of abandoned interests in business associations. When the property to be delivered to the Treasurer pursuant to the provisions of section 3-65a is an ownership interest in a business association presumed abandoned under section 3-59b, the holder shall…

Sec. 3-59d. Delivery of duplicate certificate to Treasurer. Holder relieved of liability to others upon such delivery. Upon delivery of a duplicate certificate, the holder and any transfer agent, registrar or other person acting for or on behalf of a holder in executing or delive…

Sec. 3-60. Examination of witnesses. Section 3-60 is repealed. (1949 Rev., S. 152; 1961, P.A. 540, S. 31.)

Sec. 3-60a. Property distributable on dissolution of business presumed abandoned, when. Notice to shareholder of corporate dissolution or liquidation. (a) All property distributable in the course of a voluntary or involuntary dissolution or liquidation of an unincorporated busine…

Sec. 3-60b. Wages, salary or other compensation for personal services presumed abandoned, when. Except for wages collected by the Labor Commissioner pursuant to subsection (b) of section 31-68, any sum payable for wages, salary or other compensation for personal services that has…

Sec. 3-60c. Deposit, refund or other sum owed by utility presumed abandoned, when. Any deposit, refund or other sum owed to a customer or subscriber by a utility that has remained unclaimed by the customer or subscriber for more than one year after it becomes due, payable or dist…

Sec. 3-60d. Value of gift certificate presumed abandoned, when. Section 3-60d is repealed, effective October 1, 2005. (June 30 Sp. Sess. P.A. 03-1, S. 74; P.A. 05-189, S. 4.)

Sec. 3-61. Action against custodian of property. Section 3-61 is repealed. (1949 Rev., S. 153; 1961, P.A. 540, S. 31.)

Sec. 3-61a. Property held by fiduciary presumed abandoned, when. All property and any income or increment thereon held in a fiduciary capacity for the benefit of another person is presumed abandoned unless the owner has, within seven years after it became payable or distributable…

Sec. 3-62. Application of provisions. Section 3-62 is repealed. (1949 Rev., S. 154; 1961, P.A. 540, S. 31.)

Sec. 3-62a. Property held by public body or officer presumed abandoned, when. All property held for the owner by any court, public corporation, public authority or public officer of this state, or a political subdivision thereof, which has remained unclaimed by the owner for more…

Sec. 3-62b. Property held by federal court or agency presumed abandoned, when. All property within the provisions of subdivisions (1), (2), (3), (4) and (5) of this section are declared to have escheated, or to escheat, including all principal and interest accruing thereon, and t…

Sec. 3-62c. Proceedings to recover property. (a) When there exists, or may exist escheated funds or property under sections 3-62b to 3-62g, inclusive, the Treasurer shall make demand therefor or request the Attorney General to institute proceedings in the name of the state for an…

Sec. 3-62d. Action to obtain decree of escheat. Whenever the Treasurer is of the opinion that an escheat has occurred, or shall occur, of any money or other property deposited in the custody of, or under the control of, any court of the United States, in and for any district with…

Sec. 3-62e. Treasurer to pay costs and deposit funds into General Fund. When any funds or property which have escheated under sections 3-62b to 3-62g, inclusive, have been recovered by the Treasurer, except as otherwise provided in section 3-62h, he or she shall pay all costs inc…

Sec. 3-62f. Claim for return of escheated property. Section 3-62f is repealed. (1969, P.A. 94, S. 5; 1971, P.A. 870, S. 10; P.A. 75-605, S. 21, 27; P.A. 76-435, S. 15, 82; 76-436, S. 381, 681; P.A. 77-603, S. 3, 125; 77-614, S. 139, 610; P.A. 78-280, S. 5, 127; P.A. 88-230, S. 1,…

Sec. 3-62g. Liability of state. Upon the payment or delivery of money or other property to the Treasurer under sections 3-62b to 3-62g, inclusive, the state shall assume custody and shall be responsible for all claims thereto. If, after payment or delivery to the Treasurer, any o…

Sec. 3-62h. Special Abandoned Property Fund. Deposit of abandoned property receipts. Special obligation bond authorization. Disbursement of resources of fund. (a) As used in this section, the following terms shall have the following meanings, unless the context clearly indicates …

Sec. 3-63. Notice of inactive bank accounts. Index. Interest. Escheat. Section 3-63 is repealed. (1949 Rev., S. 155; 1955, S. 43d; 1961, P.A. 540, S. 31.)

Sec. 3-63a. Property in decedent's estate presumed abandoned, when. Any property of a deceased person ordered distributed pursuant to section 45a-452 shall be presumed abandoned on the date of the Probate Court order and delivered by the fiduciary of the estate of the deceased pe…

Sec. 3-64. Escheating of trust funds held by the Treasurer. Section 3-64 is repealed. (1949 Rev., S. 156; 1955, S. 44d; 1961, P.A. 540, S. 31.)

Sec. 3-64a. Property presumed abandoned generally. All property not otherwise provided for or excluded from this part, including any income, interest or other increment thereto and deducting any lawful charges, which is held or owing in this state and has remained unclaimed by th…

Sec. 3-65. Conversion of escheated property into cash. Section 3-65 is repealed. (1953, S. 45d; 1961, P.A. 540, S. 31.)