June 6, 2012
12:00 pm - 1:30 pm PT
1:00 pm - 2:30 pm MT
2:00 pm - 3:30 pm CT
3:00 pm - 4:30 pm ET
Meet the Presenter
Elizabeth Fast, JD & CPA, Spencer Fane
Britt & Browne LLP
CLICK HERE TO LEARN MORE ABOUT YOUR REGISTRATION OPTIONS
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 receive unclaimed property.
This webinar will explain the Uniform Unclaimed Property Act and its concepts. In addition, you will receive contact information for the unclaimed property administrators in every state. Since escheat laws vary, state-specific escheat laws will not be covered. However, you will be able to find your state-specific escheat laws by using the contact information in the handout.
- When is an account considered dormant?
- What fees can be imposed on dormant accounts?
- What are a credit union’s responsibilities under the Uniform Unclaimed Property Act?
- How should safe deposit boxes be handled?
- Does your credit union’s deposit share agreement or safe deposit agreement impose additional responsibilities?
- Contact information for each state’s unclaimed property administrators
WHO SHOULD ATTEND?
This informative session is designed to assist your credit union with properly handling dormant accounts and unclaimed property. Any personnel involved in deposit accounts and safe deposit boxes will benefit from this session.