CT SB00215

Amends Section 3-57a(a) of Connecticut general statutes regarding when bank-held property is presumed abandoned, effective October 1, 2026

Demand or savings deposits are presumed abandoned after 3 years of inactivity unless the owner has changed the deposit amount, presented a passbook, corresponded in writing, or demonstrated interest through a memorandum on file or non-returned IRS Form 1099

Matured time deposits follow the same 3-year abandonment period, with additional time allowed for auto-renewing deposits to reach maturity before the clock starts

Certified checks, money orders, drafts, and traveler's checks are presumed abandoned after 3 years from the payable date or issuance date if payable on demand

Safe deposit box contents are presumed abandoned after 5 years from the date the lease or rental period expired due to nonpayment or other reasons