(a) Every person holding funds or other property, tangible or intangible, presumed abandoned under this chapter shall report to the Mayor with respect to the property as provided in this section.

(b) The report must be verified and shall include:

(1) In case of unclaimed funds of life insurance corporations, the full name of the insured or annuitant and the beneficiary and his or her last known address according to the life insurance corporation’s records;

(2) In the case of the contents of a safe deposit box or other safekeeping repository or in the case of other tangible property, a description of the property and the place where it is held and may be inspected by the Mayor, in which case the report must set forth any amounts owing to the holder as shown by § 41-118;

(3) The nature and identifying number, if any, or description of the property and the amount appearing from the records to be due, except that items of value under $50 shall be reported in the aggregate upon the aggregation exceeding $50;

(4) The date when the property became payable, demandable, or returnable, and the date of the last transaction with the owner with respect to the property;

(5) Other information which the Mayor prescribes by rule as necessary for the administration of this chapter; and

(6) Except with respect to traveler’s checks and money orders, the name, if known, and last known address, if any and if known, of each person appearing from the records of the holder to be the owner of any property of the value of $50 or more presumed abandoned under this chapter.

(c) If the person holding property presumed abandoned is a successor to other persons who previously held the property for the owner, or the present holder has changed his or her name while holding the property, the present holder shall file with his or her report all known names and addresses of each previous holder of the property.

(d) The report as of the prior June 30th must be filed before November 1st of each year, but a report with respect to a life insurance company made pursuant to § 41-107 and a report of unclaimed insurance company demutualization proceeds made pursuant to § 41-107.01 shall be filed before May 1st of each year as of the prior December 31; provided, that the initial report for insurance company demutualization proceeds made pursuant to § 41-107.01 shall be filed not later than October 1 as of the prior December 31. The Mayor may postpone the reporting date upon written request by any person required to file a report. The holder, upon receipt of the extension, may make an interim payment on the amount the holder estimates will ultimately be due, which terminated the accrual or additional interest on the amount paid.

(e)(1) The holder of property presumed abandoned shall send written notice to the owner, not more than 120 days or less than 60 days before filing the report, stating that the holder is in possession of property subject to this chapter, if:

(A) The holder has in its records an address for the apparent owner which the holder’s records do not disclose to be inaccurate; and

(B) The value of the property is $50 or more.

(2) In calendar year 1998, a report concerning all property presumed to be abandoned as of October 21, 1997, must be filed no later than January 2, 1998.

(f) Verification, if made by a partnership, must be executed by a partner; if made by an unincorporated association or private corporation, by an officer; and if made by a public corporation, by its chief fiscal officer.

(Mar. 5, 1981, D.C. Law 3-160, § 117, 27 DCR 5150; June 11, 1981, D.C. Law 4-10, § 2(a), 28 DCR 1989; Sept. 29, 1992, D.C. Law 9-161, § 2(m), 39 DCR 5696; Mar. 20, 1998, D.C. Law 12-60, § 1701(l), 44 DCR 7378; Dec. 7, 2004, D.C. Law 15-205, § 1052(b), 51 DCR 8441; Apr. 13, 2005, D.C. Law 15-354, § 58, 52 DCR 2638.)

1981 Ed., § 42-217.

This section is referenced in § 41-118, § 41-119, § 41-128, § 41-132, § 41-135, and § 41-137.

D.C. Law 15-205 rewrote subsec (d) which had read as follows: “(d) The report as of the prior June 30th must be filed before November 1st of each year, but a report with respect to a life insurance company must be filed before May 1st of each year as of December 31 next preceding. The Mayor may postpone the reporting date upon written request by any person required to file a report. The holder, upon receipt of the extension, may make an interim payment on the amount the holder estimates will ultimately be due, which terminated the accrual or additional interest on the amount paid.”

D.C. Law 15-354, in subsec. (d), substituted “shall be filed not later than October 1” for “shall be filed later than October 1”.

For temporary amendment of section, see § 1701(l) 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(l) 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).

For temporary (90 day) amendment of section, see § 1052(b) of Fiscal Year 2005 Budget Support Emergency Act of 2004 (D.C. Act 15-486, August 2, 2004, 51 DCR 8236).

For temporary (90 day) amendment of section, see § 2 of Unclaimed Property Demutualization Proceeds Technical Correction Emergency Amendment Act of 2004 (D.C. Act 15-534, October 4, 2004, 51 DCR 9632).

For temporary (90 day) amendment of section, see § 1052(b) of Fiscal Year 2005 Budget Support Congressional Review Emergency Act of 2004 (D.C. Act 15-594, October 26, 2004, 51 DCR 11725).

For temporary (90 day) amendment of section, see § 2 of Unclaimed Property Demutualization Proceeds Technical Correction Congressional Review Emergency Amendment Act of 2005 (D.C. Act 16-11, January 19, 2005, 52 DCR 2943).

For temporary (90 day) amendment of section, see § 7 of Finance and Revenue Technical Amendments Emergency Amendment Act of 2006 (D.C. Act 16-260, January 26, 2006, 53 DCR 780).

For temporary (90 day) amendment of section, see § 7 of Finance and Revenue Technical Amendments Congressional Review Emergency Amendment Act of 2006 (D.C. Act 16-361, April 26, 2006, 53 DCR 3619).

Section 1701(l) of D.C. Law 12-59 rewrote (d) and (e).

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

Section 2 of D.C. Law 15-233, in subsec. (d), substituted “filed no later than October 1” for “filed later than October 1”.

Section 5(b) of D.C. Law 15-233 provided that the act shall expire after 225 days of its having taken effect.

Section 7 of D.C. Law 16-102, in par. (d), substituted “filed no later than October 1” for “filed later than October 1”.

Section 11(b) of D.C. Law 16-102 provided that the act shall expire after 225 days of its having taken effect.

Uniform Law: This section is based upon § 11 of the Uniform Disposition of Unclaimed Property Act (1966 Act).

This section is also based upon § 17 of the Uniform Unclaimed Property Act (1981 Act).