Unless otherwise provided in this chapter or by other law of this Commonwealth, intangible property is subject to the custody of this Commonwealth as unclaimed property if the conditions leading to a presumption of abandonment as described in §§ 55-210.2:1, 55-210.3:01 and 55-210.3:2 through 55-210.10:2 are satisfied, and:
1. The last known address, as shown on the records of the holder, of the apparent owner is in this Commonwealth;
2. The records of the holder do not reflect the identity of the person entitled to the property and it is established that the last known address of the person entitled to the property is in this Commonwealth;
3. The records of the holder do not reflect the last known address of the apparent owner, and it is established that (i) the last known address of the person entitled to the property is in this Commonwealth or (ii) the holder is a domiciliary or a government or governmental subdivision or agency of this Commonwealth and has not previously paid the property to the state of the last known address of the apparent owner or other person entitled to the property;
4. The last known address, as shown on the records of the holder, of the apparent owner or other person entitled to the property is in a state that does not provide by law for the escheat or custodial taking of the property or its escheat or unclaimed property law is not applicable to the property and the holder is a domiciliary or a government or governmental subdivision or agency of this Commonwealth;
5. The last known address, as shown on the records of the holder, of the apparent owner is in a foreign nation and the holder is a domiciliary or a government or governmental subdivision or agency of this Commonwealth; or
6. (i) The transaction out of which the property arose occurred in this Commonwealth, and the last known address of the apparent owner or other person entitled to the property is unknown, or the last known address of the apparent owner or other person entitled to the property is in a state that does not provide by law for the escheat or custodial taking of the property or its escheat or unclaimed property law is not applicable to the property, and (ii) the holder is a domiciliary of a state that does not provide by law for the escheat or custodial taking of the property or its escheat or unclaimed property law is not applicable to the property.
History
1984, c. 121; 2000, cc. 733, 745.
