CT HB05183

Requires Connecticut banks to notify account holders by first class mail not later than one year before presuming a bank account has been abandoned that remaining funds will be transferred to the State Treasurer and subject to escheat.

Modifies notification requirements for inactive bank accounts to specify banks must use first class mail directed to the account holder's last-known address.

Applies to funds remaining in inactive bank accounts at Connecticut banks as defined in section 36a-2, contingent on the account holder's claim not being barred by law.

Requires banks to pay or deliver abandoned property to the Treasurer and file a report of unclaimed property within ninety days after the close of the calendar year in which the property is presumed abandoned.

Takes effect October 1, 2012 and amends sections 3-65a(a) and (b) of the general statutes.