Del. Code tit. 12 § 1148

Current through 2024 Legislative Session Act Chapter 494

Section 1148 - Notice to owner by holder

The holder of property presumed abandoned shall send to the owner notice that complies with § 1149 of this title in a format acceptable to the State Escheator, by first-class United States mail, not more than 120 days nor less than 60 days before filing the report under § 1142 of this title, or at any time as directed under § 1171(5) of this title, if both of the following apply:

(1) The holder has in its records an address for the owner sufficient to direct the delivery of first-class United States mail to the owner, which the holder's records do not disclose to be invalid.

(2) The value of the property is $50 or more, unless the property is a security, in which case the holder must send notice to the owner regardless of the value of the property.

12 Del. C. § 1148

Amended by Laws 2021, ch. 59,s 4, eff. 6/30/2021.

Amended by Laws 2017, ch. 48,s 1, eff. 6/29/2017.

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