03.05.01.01

.01 Abandoned Funds.

A. For reporting periods ending before June 30, 2002, any checking, savings, share, negotiable order of withdrawal, automatic transfer, share draft, electronic terminal account, or other similar type of account, held by a banking or financial organization, is presumed abandoned after 5 years if the depositor or shareholder has not actively deposited, withdrawn or presented the passbook or its equivalent for crediting of interest, or otherwise indicated an interest in the funds or deposit as evidenced by memorandum or correspondence from the depositor on file with the banking or financial organization.

B. Effective June 1, 2002, for reporting periods ending on or after June 30, 2002, any checking, savings, share, negotiable order of withdrawal, automatic transfer, share draft, electronic terminal account, or other similar type of account held by a banking or financial organization is presumed abandoned after 4 years if the depositor or shareholder has not actively deposited, withdrawn, or presented the passbook or the equivalent for crediting of interest, or otherwise indicated an interest in the funds or deposit as evidenced by memorandum or correspondence from the depositor on file with the banking or financial organization.

C. Effective June 1, 2003, for reporting periods ending on or after June 30, 2003, any checking, savings, share, negotiable order of withdrawal, automatic transfer, share draft, electronic terminal account, or other similar type of account held by a banking or financial organization is presumed abandoned after 3 years, if the depositor or shareholder has not actively deposited, withdrawn, or presented the passbook or the equivalent for crediting of interest, or otherwise indicated an interest in the funds or deposit as evidenced by memorandum or correspondence from the depositor on file with the banking or financial organization.