CT HB05533

Extends the escheat period for demand and savings deposits from three to seven years of inactivity before funds are presumed abandoned and revert to the state.

Changes the escheat period for matured time deposits from three to seven years, plus additional time if the account automatically renews unless the owner provides contrary instructions.

Extends the escheat period for funds invested in financial organizations or deposits with them from three to seven years of inactivity.

Extends the escheat period for outstanding checks, money orders, drafts, and traveler's checks from three to seven years from the date payable or issuance.

Keeps the five-year escheat period unchanged for funds in safe deposit boxes or safekeeping repositories following expiration of the lease or rental period.