Delaware Code Title 12 Sec. 1222 – Proceeding to adjudicate escheat
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The Secretary of State may bring proceedings in the United States District Court to escheat unclaimed postal savings system accounts held by the United States Treasury Department. A single proceeding may be used to escheat as many accounts as may be available for escheat at 1 time.
12 Del. C. 1953, § ?1222; 58 Del. Laws, c. 329; 58 Del. Laws, c. 426, § ?18;
Terms Used In Delaware Code Title 12 Sec. 1222
- Court: means the Court of Chancery. See Delaware Code Title 12 Sec. 39A-101
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 12 Sec. 1130
- United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302