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Upcoming League Events

 

Webinar: Handling Dormant Accounts & Unclaimed Property

 

Thursday, January 9, 2014

2:00 - 3:30 pm CST

 

Speaker: Elizabeth Fast, Spencer Fane Britt & Browne, LLP

 

About the Program

Dormant accounts and unclaimed property pose unique, and often complicated, problems for credit unions. Credit unions’ procedures and practices regarding dormant accounts and unclaimed property in safe deposit boxes have come under attack by both consumers and state agencies that are entitled to the escheatment of this unclaimed (abandoned) property.

 

This webinar will explain the Uniform Unclaimed Property Act and the tools every credit union needs to evaluate its dormant accounts and unclaimed (abandoned) property practices. In addition, you will receive contact information for the unclaimed property administrators in every state. Since escheat laws vary, this webinar will not cover statespecific escheat laws. However, you will be able to find your state-specific escheat laws by using the contact information in the handout.

 

HIGHLIGHTS

  • When is an account considered dormant?
  • What fees can be imposed on dormant accounts?
  • What are the credit union’s responsibilities under the Uniform Unclaimed Property Act?
  • How should safe deposit boxes be handled?
  • Does your credit union’s deposit agreement or safe deposit agreement impose additional responsibilities?
  • What if your credit union has branches in more than one state?


Related Files
Printable Brochure (Adobe PDF File)

Related Links
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