Where any sum is payable on a money order, traveler's check, or other similar written instrument (other than a third party bank check) on which a banking or financial organization or a business association is directly liable. (3) "financial organization" means any savings and loan association, building and loan association, credit union, or investment company engaged in business in the United States. (2) "business association" means any corporation (other than a public corporation), joint stock company, business trust, partnership, or any association for business purposes of two or more individuals and (1) "banking organization" means any bank, trust company, savings bank, safe deposit company, or a private banker engaged in business in the United States 1526, provided that: "This title shall be applicable to sums payable on money orders, traveler's checks, and similar written instruments deemed abandoned on or after February 1, 1965, except to the extent that such sums have been paid over to a State prior to January 1, 1974." §2502. Statutory Notes and Related Subsidiaries Applicability to Sums Payable on Money Orders, Etc., Deemed Abandoned on or After FebruException (5) the cost of maintaining and retrieving addresses of purchasers of money orders and traveler's checks is an additional burden on interstate commerce since it has been determined that most purchasers reside in the State of purchase of such instruments. (4) it is a burden on interstate commerce that the proceeds of such instruments are not being distributed to the States entitled thereto and (3) the States wherein the purchasers of money orders and traveler's checks reside should, as a matter of equity among the several States, be entitled to the proceeds of such instruments in the event of abandonment (2) a substantial majority of such purchasers reside in the States where such instruments are purchased (1) the books and records of banking and financial organizations and business associations engaged in issuing and selling money orders and traveler's checks do not, as a matter of business practice, show the last known addresses of purchasers of such instruments Congressional findings and declaration of purpose
0 kommentar(er)
