Del. Code tit. 12 § 1134

Current through 2024 Legislative Session Act Chapter 531

Section 1134 - When contents of safe deposit box presumed abandoned

Proceeds from a sale of tangible property held in a safe deposit box by the holder permitted by law of this State other than this chapter are presumed abandoned if the property remains unclaimed by the owner 5 years after the earlier of one of the following:

(1) The expiration of the lease or rental period for the box.

(2) The earliest date when the lessor of the box is authorized by law of this State other than this chapter to enter the box and remove or dispose of the contents without consent or authorization of the lessee.

12 Del. C. § 1134

Added by Laws 2017, ch. 1,s 2, eff. 2/2/2017.