Unclaimed Refunds Clause Samples
Unclaimed Refunds. Any unclaimed withdrawal or refund for terminated Accounts and any unclaimed Account Balance shall escheat to the Florida Prepaid College Trust Fund seven years after the date the Account was terminated or such amounts became unclaimed, respectively.
Unclaimed Refunds. Except as otherwise provided by law, the Escrow Agent shall give each Purchaser entitled to a return of such Purchaser's funds notice thereof by certified or registered mail, addressed to such Purchaser at his address shown in Article II above or any address later made known in writing to the Escrow Agent by such Purchaser. IF PURCHASER SHALL NOT HAVE CLAIMED SUCH REFUND WITHIN ONE HUNDRED TWENTY (120) DAYS AFTER THE DATE OF DEPOSIT OF SUCH NOTICE IN THE UNITED STATES MAILS, THE ESCROW AGENT SHALL THEREAFTER TREAT ALL FUNDS OF PURCHASER PLUS ACCRUED INTEREST THEREON AS THE ESCROWED FUNDS OF SELLER AND NOT OF PURCHASER, and shall disburse such funds as directed by Seller. After having sent Seller written notice of the foregoing acts, the Escrow Agent shall thereupon be released from further liability with respect to such funds and such Purchaser.