Delaware § 1224 Collection and deposit of funds; indemnification of United States

Delaware Statutes

§ 1224 — Collection and deposit of funds; indemnification of United States

Delaware § 1224

JurisdictionDelaware

Title12

PartDescent and Distribution; Escheat

Ch. 11ESCHEATS

Subch.Escheat of Postal Savings System Accounts

This text of Delaware § 1224 (Collection and deposit of funds; indemnification of United States) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 12, § 1224 (2026).

Text

(a)The Secretary of State shall present a copy of each final judgment of escheat to the United States Treasury Department for payment of the principal due and the interest computed under regulations of the United States Treasury Department. The payment received shall be deposited in the General Fund in the State Treasury.

(b)This State shall indemnify the United States for any losses suffered as a result of the escheat of unclaimed postal savings system accounts. The burden of the indemnification falls upon the fund into which the proceeds of the escheated accounts have been paid.

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(a) The Secretary of State shall present a copy of each final judgment of escheat to the United States Treasury Department for payment of the principal due and the interest computed under regulations of the United States Treasury Department. The payment received shall be deposited in the General Fund in the State Treasury.

(b) This State shall indemnify the United States for any losses suffered as a result of the escheat of unclaimed postal savings system accounts. The burden of the indemnification falls upon the fund into which the proceeds of the escheated accounts have been paid.