Unclaimed funds definition
Unclaimed funds. , as used in this section, means all moneys held and owing by any life insurance corporation unclaimed and unpaid for more than three years after the moneys became due and payable as established from the records of the corporation under any life or endowment insurance policy or annuity contract which has matured or terminated. A life insurance policy not matured by actual proof of the death of the insured is deemed to be matured and the proceeds thereof are deemed to be due and payable if the policy was in force when the insured attained the limiting age under the mortality table on which the reserve is based and shall be presumed abandoned and to be unclaimed funds as defined in this section if unclaimed and unpaid for more than two years thereafter, unless the person appearing entitled thereto has within the two-year period assigned, readjusted, or paid premiums on the policy, or subjected the policy to loan or corresponded in writing with the life insurance corporation concerning the policy. Moneys otherwise payable according to the records of the corporation are deemed due and payable although the policy or contract has not been surrendered as required.
Unclaimed funds means any funds that are abandoned under the Uniform Unclaimed Property Act, chapter 63.29 RCW.
Unclaimed funds means money deposited with the Court pursuant to 11 U.S.C. § 347(a) and Fed.R.Bankr.P. 3011 for an individual or an entity who is entitled to the money but has failed to claim ownership of it; and
Examples of Unclaimed funds in a sentence
Unclaimed funds will be reported and remitted in accordance with state law.
More Definitions of Unclaimed funds
Unclaimed funds means Unclaimed Funds – Non-Subscription and Unclaimed Funds – Subscription.
Unclaimed funds. , as used in this subsection, means all money held by
Unclaimed funds. , as used in this section, means all moneys held and owing by any insurance corporation unclaimed and unpaid for more than seven years or five years as provided in section 447.536 after the moneys became due and payable as established from the records of the corporation under any property insurance or casualty insurance policy or any life or endowment insurance policy or annuity contract which has matured or terminated, including all unpaid drafts, except drafts issued for the purpose of an offer of settlement. It shall be the responsibility of the issuing company to establish that an unpaid draft was tendered as a settlement offer. A life insurance policy not matured by actual proof of the death of the insured is deemed to be matured and the proceeds thereof are deemed to be due and payable if such policy was in force when the insured attained the limiting age under the mortality table on which the reserve is based, unless the person appearing entitled thereto has within the preceding seven years or five years as provided in section 447.536:
Unclaimed funds. , as used in this subsection, means all money held by any fire, casualty, or surety insurance corporation unclaimed and unpaid for more than 3 years after the money becomes due and payable, as established from the records of the corporation, either to an insured, a principal, or a claimant under any fire, casualty, or surety insurance policy or contract.
Unclaimed funds means any funds remaining in any accounts held by Administrative Agent as of 30 days after the end of the Run-Out Period.
Unclaimed funds means the sum of the Net Settlement Fund that remain after the payment of the Costs of Settlement Administration, Service Award, Fee Award and Costs, Taxes and Tax-Related Expenses, Credit Monitoring and Insurances Services, and after the expiration of checks issued to Settlement Class Members who submitted a valid and timely Claim Form for Documented Loss Payments and/or Cash Awards, and any Subsequent Settlement Payment (described herein).
Unclaimed funds means funds remaining in an account that are not disbursed to an eligible school after the beneficiary attains the age of 30.