Overview
According to Massachusetts Abandoned Property Law, any financial asset that has been inactive for more than 3 years is declared abandoned and turned over to the State Treasury. All uncashed checks (non-payroll) are considered Abandoned Property after 3 years, and we are required by law to due diligence on these checks.
Due Diligence
It is our responsibility under Massachusetts law to perform due diligence on checks >$100 (non-payroll) before they are turned over to the state after 3 years every Oct 30th. We...
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