Section 221.47 - Unclaimed and withheld funds(a) All unclaimed funds subject to distribution remaining in the liquidator's hands when he is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member or other person who is unknown or cannot be found, shall be deposited with the State Treasurer. Any amount on deposit not claimed within six years from the discharge of the liquidator shall be deemed to have been abandoned and shall be escheated without formal escheat proceedings and be deposited with the General Fund. Any amounts barred shall become the property of the Commonwealth, and the State Treasurer shall at the end of each fiscal year transfer the amount so barred to the General Fund for the use and operation of liquidation proceedings.(b) All funds withheld under section 540 and not distributed shall upon discharge of the liquidator be deposited with the State Treasurer and paid by him in accordance withsection 540. Any sums remaining which under section 540 would revert to the undistributed assets of the insurer shall be transferred to the State Treasurer and become the property of the Commonwealth under subsection (a), unless the commissioner in his discretion petitions the court to reopen the liquidation under section 549. 1921, May 17, P.L. 789, art. V, § 547, added 1977, Dec. 14, P.L. 280, No. 92, § 2, imd. effective.