Title 41, Personal Property.

(a) Subject to § 41-152.10, the following property is presumed abandoned if it is unclaimed by the apparent owner during the period specified below: (1) A traveler's check, 15 years after issuance; (2) A money order, 7 years after issuance; (3) A state or municipal bond, bearer b…

(a) Subject to § 41-152.10, property held in a pension account or retirement account that qualifies for tax deferral under the income-tax laws of the United States is presumed abandoned if it is unclaimed by the apparent owner 3 years after the later of: (1) The following date: (…

(a) Subject to § 41-152.10 and except for property described in § 41-152.02 and property held in a plan described in section 529A of the Internal Revenue Code of 1986, approved December 19, 2014 (128 Stat. 4056; 26 U.S.C. § 529A), property held in an account or plan, including a …

(a) Subject to § 41-152.10, property held in an account established under §§ 21-301 to 21-324, or another state's Uniform Gifts to Minors Act or Uniform Transfers to Minors Act, is presumed abandoned if it is unclaimed by or on behalf of the minor on whose behalf the account was …

(a) Tangible property held in a safe-deposit box and proceeds from a sale of the property by the holder permitted by law of the District other than this chapter are presumed abandoned if the property remains unclaimed by the apparent owner 3 years after the earlier of the: (1) Ex…

(a) Subject to § 41-152.10, the net card value of a stored-value card, other than a payroll card or a gift card, is presumed abandoned on the latest of 3 years after: (1) December 31 of the year in which the card is issued or additional funds are deposited into it; (2) The most r…

Subject to § 41-152.10, a gift card is presumed abandoned if it is unclaimed by the apparent owner 5 years after the later of the date of purchase or its most recent use.

(a) Subject to § 41-152.10, a security is presumed abandoned 3 years after: (1) The date a second consecutive communication sent by the holder by first-class United States mail to the apparent owner is returned to the holder undelivered by the United States Postal Service; or (2)…

At and after the time property is presumed abandoned under this chapter, any other property right or interest accrued or accruing from the property and not previously presumed abandoned is also presumed abandoned.

(a) The period after which property is presumed abandoned is measured from the later of: (1) The date the property is presumed abandoned under this subchapter; or (2) The latest indication of interest by the apparent owner in the property. (b) Under this chapter, an indication of…

(a) In this section, "death master file" means the United States Social Security Administration Death Master File or other database or service that is at least as comprehensive as the United States Social Security Administration Death Master File for determining that an individua…

If proceeds payable under a life or endowment insurance policy or annuity contract are deposited into an account with check or draft-writing privileges for the beneficiary of the policy or contract and, under a supplementary contract not involving annuity benefits other than deat…

(a) In this subchapter, the following rules apply: (1) The last-known address of an apparent owner is any description, code, or other indication of the location of the apparent owner that identifies the state, even if the description, code, or indication of location is not suffic…

(a) The Administrator may take custody of property that is presumed abandoned, whether located in the District, another state, or a foreign country if: (1) The last-known address of the apparent owner in the records of the holder is in the District; or (2) The records of the hold…

(a) Except as otherwise provided in subsection (b) of this section, if records of a holder reflect multiple addresses for an apparent owner and the District is the state of the most recently recorded address, the District may take custody of property presumed abandoned, whether l…

(a) Except as otherwise provided in subsection (b) of this section or § 41-153.02 or § 41-153.03, the Administrator may take custody of property presumed abandoned, whether located in the District, another state, or a foreign country, if the holder is domiciled in the District or…

(a) Except as otherwise provided in § 41-153.02, § 41-153.03, or § 41-153.04, the Administrator may take custody of property presumed abandoned whether located in the District or another state if: (1) The transaction out of which the property arose took place in the District; (2)…

The Administrator may take custody of sums payable on a traveler's check, money order, or similar instrument presumed abandoned to the extent permissible under sections 601 through 603 of An Act To increase deposit insurance from $20,000 to $40,000, to provide full insurance for …

(a) If the Administrator asserts a right to custody of unclaimed property, the Administrator has the burden to prove: (1) The existence and amount of the property; (2) That the property is presumed abandoned; and (3) That the property is subject to the custody of the Administrato…

(a) A holder of property presumed abandoned and subject to the custody of the Administrator shall report in a record to the Administrator concerning the property. The Administrator may not require a holder to file a paper report. (b) A holder may contract with a third party to ma…

(a) The report required under § 41-154.01 shall: (1) Be signed by or on behalf of the holder and verified as to its completeness and accuracy; (2) If filed electronically, be in a secure format approved by the Administrator that protects confidential information of the apparent o…

(a) Except as otherwise provided in subsection (b) of this section and subject to subsection (c) of this section, the report under § 41-154.01 shall be filed before November 1 of each year and cover the 12 months preceding July 1 of that year. (b) Subject to subsection (c) of thi…

(a) A holder required to file a report under § 41-154.01 shall retain records for 10 years after the later of the date the report was filed or the last date a timely report was due to be filed, unless a shorter period is provided by rule of the Administrator. The holder may satis…

Property is reportable and payable or deliverable under this chapter even if the owner fails to make demand or present an instrument or document otherwise required to obtain payment.

(a) Subject to subsection (b) of this section, the holder of property presumed abandoned shall send to the apparent owner notice by first-class United States mail that complies with § 41-155.02 in a format acceptable to the Administrator not more than 180 days nor less than 60 da…

(a) Notice under § 41-155.01 shall contain a heading that reads substantially as follows: (1) "Notice. The District of Columbia requires us to notify you that your property may be transferred to the custody of the District of Columbia's Unclaimed Property Administrator if you do …

(a) The Administrator shall make a reasonable effort to give notice to an apparent owner that property of the owner that is presumed to be abandoned is held by the Administrator under this chapter. The Administrator shall use available resources, including information services, t…

Unless prohibited by law of the District other than this chapter, on request of the Administrator, each officer, agency, board, commission, division, and department of the District and any body politic and corporate created by the District for a public purpose shall make its book…

(a) In this subchapter, payment or delivery of property is made in good faith if a holder: (1) Had a reasonable basis for believing, based on the facts then known, that the property was required or permitted to be paid or delivered to the Administrator under this chapter; or (2) …

(a) A holder may deduct a dormancy charge from property required to be paid or delivered to the Administrator if: (1) A valid contract between the holder and the apparent owner authorizes imposition of the charge for the apparent owner's failure to claim the property within a spe…

(a) Except as otherwise provided in this section, on filing a report under § 41-154.01, the holder shall pay or deliver to the Administrator the property described in the report. (b) If property in a report under § 41-154.01 is an automatically renewable deposit and a penalty or …

(a) On payment or delivery of property to the Administrator under this chapter, the Administrator as agent for the District assumes custody and responsibility for safekeeping the property. A holder that pays or delivers property to the Administrator in good faith and substantiall…

(a) A holder that under this chapter pays money to the Administrator may file a claim for reimbursement from the Administrator of the amount paid if the holder: (1) Paid the money in error; or (2) After paying the money to the Administrator, paid money to a person the holder reas…

(a) Property removed from a safe-deposit box and delivered under this chapter to the Administrator under this chapter is subject to the holder's right to reimbursement for the cost of opening the box and a lien or contract providing reimbursement to the holder for unpaid rent cha…

(a) If property other than money is delivered to the Administrator, the owner is entitled to receive from the Administrator income or gain realized or accrued on the property before the property is sold. If the property is an interest-bearing demand, savings, or time deposit that…

(a) The Administrator may decline to take custody of property reported under § 41-154.01 if the Administrator determines that: (1) The property has a value less than the estimated expenses of notice and sale of the property; or (2) Taking custody of the property would be unlawful…

(a) If the Administrator takes custody of property delivered under this chapter and later determines that the property has no substantial commercial value or that the cost of disposing of the property will exceed the value of the property, the Administrator may return the propert…

(a) Expiration, before, on, or after November 13, 2021, of a period of limitation on an owner's right to receive or recover property, whether specified by contract, statute, or court order, does not prevent the property from being presumed abandoned or affect the duty of a holder…

(a) Subject to § 41-157.02, not earlier than one year after receipt of property presumed abandoned, the Administrator may sell the property. (b) Before selling property under subsection (a) of this section, the Administrator shall give notice to the public of: (1) The date of the…

(a) The Administrator may not sell or otherwise liquidate a security until 60 days after the Administrator receives the security and gives the apparent owner notice under § 41-155.03 that the Administrator holds the security. (b) The Administrator may not sell a security listed o…

(a) If the Administrator sells a security before the expiration of 60 days after delivery of the security to the Administrator, an apparent owner that files a valid claim under this chapter of ownership of the security before the 60-day period expires is entitled, at the option o…

A purchaser of property at a sale conducted by the Administrator under this chapter takes the property free of all claims of the owner, a previous holder, or a person claiming through the owner or holder. The Administrator shall execute documents necessary to complete the transfe…

(a) The Administrator may not sell a medal or decoration awarded for military service in the armed forces of the United States. (b) The Administrator, with the consent of the respective organization under paragraph (1) of this subsection, agency under paragraph (2) of this subsec…

(a) The Administrator shall deposit all funds received under this chapter, including proceeds from the sale of property under subchapter VII of this chapter, into an account in the General Fund designated the Unclaimed Property Account. For each fiscal year, the Administrator sha…

(a) The Administrator shall: (1) Record and retain the name and last-known address of each person shown on a report filed under § 41-154.01 to be the apparent owner of property delivered to the Administrator; (2) Record and retain the name and last-known address of each insured o…

(a) Before making a deposit of funds received under this chapter to the General Fund of the District, the Administrator may deduct: (1) Expenses of disposition of property delivered to the Administrator under this chapter; (2) Costs of mailing and publication in connection with p…