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Escheat |
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EscheatReversion of monies or securities to the state in which the securityholder was last known to reside, when no claim by the securityholder has been made after a certain period of time fixed by state law. This known as the holding period or cut-off date.Escheat Similar MatchesEscheat PeriodEscheat PeriodThe period of elapsed time required by applicable state law for property to be presumed abandoned. EscheatmentEscheatmentThe process of turning over unclaimed or abandoned property to a state authority. Escheatment laws require mutual funds to turn over uncashed or returned check dollars and/or client account fund shares if the owner cannot be located within a length of time determined by each state. |
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