12 U.S.C. § 216a — Definitions

submitted 44 years ago by Pub. L. 96-221 to r/title-12-BANKS-AND-BANKING · 96 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section defines three terms used in this subchapter about unclaimed bank property. "Comptroller" means the Comptroller of the Currency. "Unclaimed property" means items from safe deposit boxes or safekeeping arrangements at closed national banks now held by the Comptroller. "Claimant" means anyone, including a state, asserting a legal interest in that property.

For purposes of this subchapter — (1) the term "Comptroller" means the Comptroller of the Currency. (2) The term "unclaimed property" means any articles, items, assets, other property, or the proceeds from them, that came from safe deposit boxes or other safekeeping arrangements at national banks that have since closed, and that are now in the possession, custody, or control of the Comptroller because the Comptroller acts as successor to those banks' receivers. (3) The term "claimant" means any person or entity — including a state acting under its own applicable law — asserting a demonstrable legal interest in title to, or custody or possession of, unclaimed property.

the actual law source: uscode.house.gov ↗public domain

For purposes of this subchapter—

(1)

the term “Comptroller” means the Comptroller of the Currency;

(2)

the term “unclaimed property” means any articles, items, assets, other property, or the proceeds thereof from safe deposit boxes or other safekeeping arrangements with closed national banks, which are in the possession, custody, or control of the Comptroller in its capacity as successor to receivers of those banks; and

(3)

the term “claimant” means any person or entity, including a State under applicable statutory law, asserting a demonstrable legal interest in title to, or custody or possession of, unclaimed property.

Source credit: (Pub. L. 96–221, title VII, § 732, as added Pub. L. 97–320, title IV, § 408, Oct. 15, 1982, 96 Stat. 1513; amended Pub. L. 109–351, title VII, § 725(c)(2), Oct. 13, 2006, 120 Stat. 2001; Pub. L. 109–356, title I, § 123(c)(2), Oct. 16, 2006, 120 Stat. 2029.)

history & why it existsrecord from the source credit

1982Enacted · Pub. L. 96-221 · 96 Stat. 1513
2006Amended · Pub. L. 109-351 · 120 Stat. 2001
2006Amended · Pub. L. 109-356 · 120 Stat. 2029

A history note hasn’t been published yet. The record shows enactment by Pub. L. 96-221 on 1982-10-15.

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