Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 1301.3. Property held by financial institutions

1. Any demand, saving or matured time deposit in a financial institution, or any funds paid toward the purchase of shares or other interest in a savings association, savings and loan or building and loan association, excluding any charges that may lawfully be withheld, unless within the preceding three (3) years the owner has:

2. A deposit under clause 1 shall include any interest or dividend which the financial institution would pay to the owner upon claim therefor.  The charges which may be excluded hereunder shall not include any charge due to inactivity imposed, directly or indirectly, after December 31, 1981 unless there is a valid and enforceable written contract between the financial institution and the owner of the deposit pursuant to which the financial institution may impose said charge.

3. Any sum payable on checks or on written instruments including, but not limited to, drafts, money orders and travelers checks, on which a financial institution is directly liable, and (i) which have been outstanding for more than three (3) years, or in the case of travelers checks, fifteen (15) years, or in the case of money orders, six (6) years in calendar year 2003 and seven (7) years in calendar year 2004 and thereafter, from the date payable or from the date of issuance if payable on demand;  and (ii) the owner of which has not written to the financial institution concerning it, nor otherwise indicated an interest.  An indication of interest in a check or instrument on which a financial institution is directly liable shall be recognized if it is made with respect to the interests of the remitter, the payee or a person entitled to enforce the instrument.

4. Any funds or other personal property, tangible or intangible, removed from a safe deposit box or any other safekeeping repository in the Commonwealth on which the lease or rental period has expired due to nonpayment of rental charges or other reason, or any surplus amounts arising from the sale thereof pursuant to law, if the same has not been claimed by the owner for more than three (3) years from the date on which the rental period expired.

5. The following deposits described in clause 1 shall be excluded from the presumption of being abandoned and unclaimed only while the conditions described below are in effect: