38 Miss. Code. R. 4-2.1 - Certificates of Deposit
Subject to the provisions of the Act, the following property held or owing by a banking or financial organization shall be presumed abandoned:
A. Any matured certificate
of deposit made in this state, upon maturity, if such certificate of deposit
had a maturity term equal to or greater than TEN (10) years, together with any
interest thereon, excluding any charges that may have accrued, unless the owner
has, within FIVE (5) consecutive years prior to maturity:
1. Increased or decreased the amount of the
certificate of deposit, or presented the passbook or other similar evidence of
the deposit for the crediting of interest;
2. Corresponded in writing with the banking
organization or financial organization concerning the certificate of deposit;
or
3. Otherwise indicated an
interest in the certificate of deposit as evidenced by a memorandum on file
with the banking organization or financial organization.
B. Any matured certificate of deposit made in
this state, five years after maturity, if such certificate of deposit had a
maturity term less than TEN (10) years, together with any interest thereon,
excluding any charges that may have accrued, unless within the previous FIVE
(5) consecutive years:
1. The certificate of
deposit had not yet matured;
2. The
owner increased or decreased the amount of the deposit, or presented the
passbook or other similar evidence of the deposit for the crediting of
interest;
3. The owner corresponded
in writing with the banking organization or financial organization concerning
the deposit; or
4. The owner
otherwise indicated an interest in the deposit as evidenced by a memorandum on
file with the banking organization or financial organization.
Notes
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