Section 892-2-1-.04 - Holder Reporting: Safe Deposit Box Contents (Alabama Administrative Code)

§ 892-2-1-.04. Holder Reporting: Safe Deposit Box Contents

(1) Prior to shipping Contents to the Treasurer's Office, the Holder shall provide a report including an estimated time of delivery of the Contents, the number of shipping boxes, shipping confirmation/tracking number, if applicable, and the Content listing. The report must be submitted electronically prior to delivery of Contents.

(2) Each owner's Contents should be individually packaged and adequately sealed by the Holder and include a listing of the Contents.

(3) Remittance of Contents must be made by registered mail, certified mail, or physical delivery. Physical delivery must be scheduled with the Treasurer's Office prior to delivery.

(4) All United States currency and coins, except those identified in Rule 92-2-1-.05(1), shall be deposited by the Holder at the time of inventory and electronically remitted to the Treasurer's Office. The items must be itemized in the Holder report and noted that it was deposited by the Holder.

(5) Mutilated currency should be handled in the normal course of business through a financial institution and the Bureau of Engraving and Printing. Once mutilated currency is exchanged for good currency, it should be included in the Holder's report. Mutilated currency should not be sent to the Treasurer's Office.

(Adopted by Alabama Administrative Monthly Volume XXXIII, Issue No. 04, January 30, 2015, eff. February 3, 2015.)

Author: Ralph Ainsworth, Unclaimed Property Division, Office of State Treasurer

Statutory Authority: Code of Ala. 1975, § 35-12-20, et seq.

Disclaimer: This content is regularly reviewed to ensure the information is current and accurate. However, Section 892-2-1-.04 Holder Reporting: Safe Deposit Box Contents may have been updated since our last review. For the latest version of all legislation, please check the official resources.

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