Good morning, ladies and gents
On the topic of escheat accounts, the question arose as to where the funds need to be sent. My understanding has been the funds must be sent to the state where the last known address of the customer is.
However, I have also been told the funds must be sent to the home state of the bank.
Both sound viable, but which is the correct rule? And is there a place where I can find it spelled out specifically?
Thanks!