I have some questions in this area. We have a ton of dormant accounts and senior management wants to charge a dormant fee. $3 dollars per quarter. 20-25% of our dormant accounts have balances less than $10.00. Also, our policy almost doesn't exist. It doesn't cover anything. Our legal representative is no help. Having to develop this all on our own. Anything specific to Tennessee is appreciated.

Have you read the Uniform Disposition of Unclaimed Property Act. Look at 66-29-152. How would you interpret this? I'm not sure we wouldn't have problems if we begin charging a fee. I am new to this so I may be mis-interpreting this but I would be very careful to make sure it was okay before I began charging a fee. By the way, we just found out that we had unclaimed property that former management should have already been escheated so I have been working on this project for a couple of months. If you come across any problems with this, I would like to discuss them with you.

If you are a member of TBA you could email either Tim Amos or Tausha Carmick (sp?). You can get the address from TBA website.

Thank you both for the references. petcat, I will be looking through some things around here that I think should have already been escheated also. I'm sure I'll be in touch over that stuff.

Thanks again!