D.C. Code § 41-156.07

Current through codified emergency legislation effective July 18, 2024
Section 41-156.07 - Crediting income or gain to owner's account
(a) If property other than money is delivered to the Administrator, the owner is entitled to receive from the Administrator income or gain realized or accrued on the property before the property is sold. If the property is an interest-bearing demand, savings, or time deposit that continues to earn interest after delivery to the Administrator, the owner is entitled to that interest before the property is sold. Interest begins to accrue when the property is delivered to the Administrator and ends on the earlier of the expiration of 10 years after its delivery or the date on which payment is made to the owner.
(b) Interest on interest-bearing property is not payable under this section for any period before the effective date of this subtitle, unless authorized by section 121 of the Uniform Disposition of Unclaimed Property Act of 1980, effective March 5, 1981 (D.C. Law 3-160; D.C. Official Code § 41-121 ).

D.C. Code § 41-156.07

Added by D.C. Law 24-45,§ VII-A-7039, 68 DCR 010163, eff. 11/13/2021.