New Jersey § 17:13-108 Inactive accounts;  special reserve accounts;  escheat of funds

New Jersey Statutes

§ 17:13-108 — Inactive accounts; special reserve accounts; escheat of funds

New Jersey § 17:13-108

Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

This text of New Jersey § 17:13-108 (Inactive accounts; special reserve accounts; escheat of funds) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 17:13-108 (2026).

Text

When no transaction has occurred in a member's share or deposit account for 12 months and his whereabouts are unknown, as verified by the return of a certified letter addressed to him at his last known address, all sums due to the member shall be credited to a special reserve account. If the sums are not reclaimed within a five year period, they shall escheat to the State and be forwarded to the Treasurer of the State of New Jersey. L.1984, c. 171, s. 30, eff. Oct. 31, 1984.

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When no transaction has occurred in a member's share or deposit account for 12 months and his whereabouts are unknown, as verified by the return of a certified letter addressed to him at his last known address, all sums due to the member shall be credited to a special reserve account. If the sums are not reclaimed within a five year period, they shall escheat to the State and be forwarded to the Treasurer of the State of New Jersey. L.1984, c. 171, s. 30, eff. Oct. 31, 1984.