As used in this chapter, the term:

(1) “Apparent owner” means the person whose name appears on the records of the holder as the person entitled to property held by the holder.

(2) “Attorney General” means the chief legal officer of a state.

(3) “Banking organization” means any bank, trust company, savings bank, or a private banker or such other individual or organization defined by the laws of the United States or of the District of Columbia as a bank or banking organization.

(4) “Business association” means a corporation, joint stock company, investment company, partnership, unincorporated association, joint venture, limited liability company, business trust, trust company, financial organization, insurance company, mutual fund, utility, or other business entity consisting of one or more persons, whether or not for profit.

(5) “District” means within the geographical boundaries of the District of Columbia.

(6) “Domicile” means, with respect to businesses:

(A) The state of incorporation in the case of a corporation incorporated under the laws of a state;

(B) The state of the principal place of business in the case of a person not incorporated under the laws of a state; or

(C) The state of the principal place of business in the United States of America in the case of any other person. For purposes of this chapter, the term “state” includes the District of Columbia.

(7) “Employee benefit trust distribution” means any money, life insurance, endowment, or annuity policy or proceeds thereof, securities or other intangible property, and any tangible property that is distributable to a participant, former participant, or the beneficiary, estate, or heirs of a participant, former participant or beneficiary, from a trust or custodial fund established under a plan to provide health and welfare, pension, vacation, severance, retirement benefit, death benefit, stock purchase, profit sharing, employee savings, supplemental unemployment insurance benefits, or similar benefits.

(8) “Financial organization” means any savings and loan association, building and loan association, credit union, or investment company.

(9) “Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.

(10) “Holder” means any person wherever organized or domiciled:

(A) In possession of property belonging to another;

(B) Who is a trustee in case of a trust; or

(C) Who is indebted to another on an obligation.

(11) “Intangible personal property” means all choses or things in action.

(12) “Last known address” means a description of the location of the apparent owner for the purpose of the delivery and receipt of mail.

(13) “Life insurance corporation” means any association or corporation including any nonprofit relief association as defined by § 47-2611, transacting the business of insurance on the lives of persons or insurance appertaining thereto, including, without limitation, endowments and annuities.

(14) “Mayor” means the Mayor of the District of Columbia or the Mayor’s authorized agent.

(15) “Owner” means a depositor in the case of a deposit; a beneficiary in the case of a trust; a creditor, claimant, or payee in the case of other choses in action; or any person having a legal or equitable interest in property subject to this chapter or his or her legal representative.

(16) “Person” means an individual, business association, government or governmental subdivision or agency, public corporation, public authority, estate, trust, 2 or more persons having a joint or common interest, or any other legal or commercial entity.

(16A) “Property” means a fixed and certain interest in or right in an intangible property that is held, issued, or owed in the course of a holder’s business, or by a government or governmental entity, and all income or increments therefrom, including that which is referred to as or evidenced by any of the following:

(A) Money, check, draft, deposit, interest, dividend, or income;

(B) Credit balance, customer overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused airline ticket, unused ticket, mineral proceed, or unidentified remittance and electronic fund transfer;

(C) Stock or other evidence of ownership or an interest in a business association;

(D) Bond, debenture, note, or other evidence of indebtedness;

(E) Money deposited to redeem stocks, bonds, coupons, or other securities or to make distributions;

(F) An amount due and payable under the terms of an insurance policy, including policies providing life insurance, property and casualty insurance, workers compensation insurance, or health and disability benefits insurance; or

(G) An amount distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefits.

(16B) “Record” means information that is inscribed on a tangible medium or that is sorted in an electronic or other medium and is retrievable in perceivable form.

(17) “Utility” means any person who owns or operates for public use any plant, equipment, property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas.

(Mar. 5, 1981, D.C. Law 3-160, § 102, 27 DCR 5150; Mar. 20, 1998, D.C. Law 12-60, § 1701(a), 44 DCR 7378.)

1981 Ed., § 42-202.

For temporary amendment of section, see § 1701(a) of the Fiscal Year 1998 Revised Budget Support Emergency Act of 1997 (D.C. Act 12-152, October 17, 1997, 44 DCR 6196), and see § 1701(a) of the Fiscal Year 1998 Revised Budget Support Congressional Review Emergency Act of 1997 (D.C. Act 12-239, January 13, 1998, 45 DCR 508).

Section 1701(a) of D.C. Law 12-59 rewrote (4); and added (16A) and (16B).

Section 2001(b) of D.C. Law 12-59 provided that the act shall expire after 225 days of its having taken effect.

“§ 47-2608” was corrected to “§ 47-2611” in paragraph (13).

Uniform Law: This section is based in part upon § 1 of the Uniform Disposition of Unclaimed Property Act (1966 Act).

This section is also based in part upon § 1 of the Uniform Unclaimed Property Act (1981 and 1995 Acts).