Tenn. Comp. R. & Regs. 1720-01-14-.02 - UNCLAIMED PROPERTY

(1) The Act applies to unclaimed property:

(a) That the University owes to or is holding for other organizations or individuals; and

(b) For which the University has had no contact with the apparent owner for a minimum of one (1) year up to the maximum statutory period.

(2) Unclaimed property includes, but is not limited to:

(a) Uncashed payroll checks

(b) Uncashed disbursement checks

(c) Uncashed refund checks

(d) Uncashed miscellaneous checks

(e) Unidentified remittances

(f) Credit balances in accounts receivable

(g) Stored Value Cards (VolCard, Mocs, Skyhawk Card, etc.)

(3) Non-cash items are considered "lost and found" items. These items are not considered to be unclaimed property and should not be reported to the State.

Notes

Tenn. Comp. R. & Regs. 1720-01-14-.02

Original rules filed September 30, 2019; effective December 29, 2019.

Authority: T.C.A. § 49-9-209(e) and Public Acts of Tennessee, 1839-1840, Chapter 98, Section 5, and Public Acts of Tennessee, 1807, Chapter 64.