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 any moneys, rights to moneys, or intangible property, described in section 169.02 of the Revised Code, when, as shown by the records of the holder, the owner has not, within the times provided in section 169.02 of the Revised Code, done any of the following:

Examples of Unclaimed funds in a sentence

• If the total amount of Unclaimed Funds exceeds 10% of the Total Settlement Award Amount, the Unclaimed Funds shall be distributed to those Class Members that have cashed their Settlement Award checks in proportion to their original Settlement Awards.

• If the total amount of Unclaimed Funds constitutes 10% or less of the Total Settlement Award Amount, the Unclaimed Funds shall be returned to the Debtors within ten (10) business days of becoming categorized as Unclaimed Funds (i.e., on the 131st day following their date of issuance).

• Unless prohibited by the applicable state law, TASC may offset its costs and expenses associated with the Unclaimed Funds.

• TASC will return to the Purchaser any such accounts or funds considered under applicable state law to be unclaimed or abandoned property (“Unclaimed Funds”).) The Purchaser agrees that, at all times, it remains the holder of the Unclaimed Funds and shall be solely responsible for compliance with applicable laws, including providing statutory notice as well as the delivery and reporting of Unclaimed Funds to the applicable state agency as required under the law.

• In either event, this Settlement Agreement shall remain binding on all Parties, including any and all Class Members whose Settlement Awards were properly deemed Unclaimed Funds.

More Definitions of Unclaimed funds

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

Unclaimed funds means Unclaimed Funds – Non-Subscription and Unclaimed Funds – Subscription.

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 means any funds remaining in any accounts held by Administrative Agent as of 30 days after the end of the Run-Out Period. EXHIBIT B SCHEDULE OF FEES Terms not specifically defined in this Schedule of Fees shall have the same meaning as those definitions set forth in the Plan Document.

Unclaimed funds means funds remaining in an account that are not disbursed to an eligible school after the beneficiary attains the age of 30.

Unclaimed funds as used in this chapter, shall mean any funds of whatever nature which are due and owing from an insurer and which are presently or may, in the future, fall under the provisions of the Uniform Disposition of Unclaimed Property Act, in Sections 35-12-70 through 35-12-96 Code of Alabama 1975 and shall include all amounts previously tendered to policyholders or other recipients, including third party payees, whether tendered by check or draft and all amounts not actually tendered but deemed due and payable at a specific point in time.

Unclaimed funds. , as used in this section, means all moneys held and owing by any