Common use of Dormant and Abandoned Accounts Clause in Contracts

Dormant and Abandoned Accounts. If you have not conducted some form of activity on your account with us within twelve (12) months, we will consider your account inactive. If a deposit or withdrawal has not been made on the account and we have had no other contact with you for three (3) years, as required by the Uniform Unclaimed Property Act, the account will be presumed to be abandoned. Funds in abandoned accounts will be remitted in accordance with state law. Once funds have been turned over to the state, we have no further liability to you for such funds, and if you choose to reclaim those funds, you must apply to the appropriate state agency.

Appears in 4 contracts

Samples: And Account Agreement, Account Agreement, And Account Agreement

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