61 Pa. Code § 951.1

Current through Register Vol. 55, No. 1, January 4, 2025

Section 951.1 - Definitions

The following words and terms, when used in this part, have the following meanings, unless the context clearly indicates otherwise:

Act-Article XIII.1 of The Fiscal Code (72 P. S. §§ 1301.1-1301.29), referred to the Disposition of Abandoned and Unclaimed Property Act.

Bureau-The Bureau of Unclaimed Property within the Department.

Claimant-One who submits a property claim or a claim for a payment otherwise alleged to be due from the Department.

Department-The Treasury Department of the Commonwealth.

Final demand-The Department's notification to a holder that unclaimed and abandoned property shall be paid or delivered within a given period of time. Notification may be in the form of a summary of audit findings or a final decision on a petition for review.

Holder-As defined in section 1301.1 of the act (72 P. S. § 1301.1).

Property claim-An assertion of ownership or the right to possess certain abandoned and unclaimed property held in the custody and control of the Department.

State Treasurer-The head of the Department, as set forth in section 206 of The Administrative Code of 1929 (71 P. S. § 66).

Summary of audit findings-

(i) Notice sent to a holder after an audit has been performed stating audit findings and notifying the holder of the abandoned and unclaimed property due the Department.

(ii) The term also includes an assessment made by the Department for late filing or late delivery of abandoned and unclaimed property.

61 Pa. Code § 951.1

The provisions of this § 951.1 amended August 3, 2007, effective 8/4/2007, 37 Pa.B. 4195.

The provisions of this § 951.1 amended under section 1301.26 of The Fiscal Code (72 P. S. § 1301.26).