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#2129930 - 05/10/17 05:38 PM ESCHEATMENT OF DEPOSIT ACCOUNT & SAFE DEPOSIT
SUSANE1 Offline
Platinum Poster
Joined: Mar 2008
Posts: 808
how is your bank going to handle the new law change on 9-1-17 that allows a customer to designate a representative for the required notice from the bank regarding inactivity and possible abandonment?

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#2129963 - 05/10/17 07:34 PM Re: ESCHEATMENT OF DEPOSIT ACCOUNT & SAFE DEPOSIT SUSANE1
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,392
Galveston, TX
Just curious - what new law?
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2129995 - 05/10/17 09:19 PM Re: ESCHEATMENT OF DEPOSIT ACCOUNT & SAFE DEPOSIT SUSANE1
Compl101TX Offline
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Compl101TX
Joined: Aug 2010
Posts: 378
W. TX
Can you post a link to the change?
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#2129996 - 05/10/17 09:21 PM Re: ESCHEATMENT OF DEPOSIT ACCOUNT & SAFE DEPOSIT SUSANE1
VMack Offline
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Joined: Jun 2001
Posts: 846
Texas
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CRCM

“The wise know their limitations; the foolish do not.”
Benjamin Hoff, The Tao of Pooh

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#2130005 - 05/10/17 09:45 PM Re: ESCHEATMENT OF DEPOSIT ACCOUNT & SAFE DEPOSIT SUSANE1
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,392
Galveston, TX
I would focus on the word "may" and not "must". But who knows how this would be enforced. I would just have the form available if someone wanted to do it.

The comptroller shall prescribe a form that a holder of an account or the contents of a safe deposit box may make available to a depositor of the account or owner of the contents of the box to designate a representative for notice under this section.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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