Current as of October 03, 2022 | Updated by FindLaw Staff
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No, you must deposit proceeds from the sale of unclaimed personal property in a special account to be maintained for a period of 3 years pending a possible claim by the former owner. After the 3–year period, you must deposit the funds in the U.S. Treasury as miscellaneous receipts or in such other agency accounts when specifically authorized by statute.
Cite this article: FindLaw.com - Code of Federal Regulations Title 41. Public Contracts and Property Management § 41.102–41.180 May we retain the proceeds from the sale of unclaimed personal property? - last updated October 03, 2022 | https://codes.findlaw.com/cfr/title-41-public-contracts-and-property-management/cfr-sect-41-102-41-180/
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