Regulatory Alerts1995-01-01
Memo 1995-27 Unclaimed property; abandonment periods; money orders
The Kansas Office of the State Treasurer issued this memo to resolve confusion regarding unclaimed property abandonment periods for bank versus personal money orders under the Uniform Unclaimed Property Act. The document clarifies that bank money orders are direct obligations of the bank treated as cashier's checks, whereas personal money orders are not bank obligations. Consequently, the memo establishes a five-year abandonment period for bank money orders and a seven-year period for personal money orders.
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