28.1608 Unclaimed deposits reported on December 31 to escheat-Deposits less than fifty dollars reported separately.

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(a) All unclaimed bank deposits reported by any bank as held by it as of December thirty-first, one thousand nine hundred and eighty-seven and as of December thirty-first of each year thereafter, regardless of the amount thereof, shall escheat to the Territory. When a report thereof is made to the Treasurer pursuant to section 28.1606 the funds must be paid over to the Treasurer by such bank simultaneously with the making of the report. All unclaimed bank deposits of less than fifty dollars ($50.00), when reported in any report or revised report or supplemental report filed, must be separately listed under the heading “Deposits of less than fifty dollars ($50.00)” and the total of all such deposits must be separately indicated.

History: 1988, PL 20-64.