Common use of Escheatment Services Clause in Contracts

Escheatment Services. a. The Transfer Agent will identify accounts as inactive based on the DST Escheatment Dormancy Trigger Categories as they are updated from time to time (“Dormancy Triggers”). b. The Transfer Agent will capture and maintain customer contact type and date. c. The Transfer Agent will mail a notice of escheatment to the shareholder or the payee of an outstanding check (the “Due Diligence Letters”) based on state mailing schedules as established by the Transfer Agent that facilitate compliance with its good faith interpretation of applicable state escheatment law. d. The Transfer Agent will escheat eligible property to the applicable states based on state remittance schedules established by applicable state law.