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Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 1301.6. Property held by business associations

Current as of January 01, 2026 | Updated by Findlaw Staff

The following property held or owing by a business association is presumed abandoned and unclaimed:

1. The consideration paid for a gift certificate or gift card which has remained unredeemed for two (2) years or more after its redemption period has expired or after the minimum period specified in section 915(c) of the Consumer Credit Protection Act (Public Law 90-321, 15 U.S.C. § 1693l-1(c)), whichever occurs later, or for three (3) years or more from the date of issuance if no redemption period is specified.  The provisions of this clause shall not apply to a qualified gift certificate.

2. Any certificate of stock or participating right in a business association, for which a certificate has been issued or is issuable but has not been delivered three (3) years after the holder has lost contact with the owner, unless the owner has within that three (3) year period:

(i) increased or decreased the principal;

(ii) accepted payment of principal or income;  or

(iii) otherwise indicated an interest in the property or in other property of the owner in the possession, custody or control of the holder.

3. Any sum due as a dividend, profit, distribution, payment or distributive share of principal held or owing by a business association three (3) years after the holder has lost contact with the owner, unless the owner has within that three (3) year period:

(i) increased or decreased the principal;

(ii) accepted payment of principal or income;  or

(iii) otherwise indicated an interest in the property or in other property of the owner in the possession, custody or control of the holder.

4. Any sum due as principal or interest on the business association's bonds or debentures, or coupons attached thereto, whenever the owner has not claimed or indicated an interest in such sum within three (3) years after the date prescribed for payment.

5. Any sum or certificate or participating right due by a cooperative to a participating patron, whenever the owner has not claimed or indicated an interest in such property within three (3) years after the date prescribed for payment or delivery.

6. The following apply:

(i) For the purpose of clauses 2 and 3, the date on which the holder has lost contact with the owner is:

(A) the date a second consecutive communication sent by the holder by first class United States mail to the owner is returned to the holder undelivered by the United States Postal Service;  or

(B) if the second communication is made later than thirty (30) days after the first communication is returned, the date the first communication is returned undelivered to the holder by the United States Postal Service.

(ii) If the owner does not receive communications from the holder by United States mail, the holder shall attempt to confirm the owner's interest in the property by sending the owner an electronic mail communication not later than two (2) years after the owner's last indication of interest in the property.  If the holder receives notification that the electronic mail communication was not received or if the owner does not respond to the electronic mail communication within thirty (30) days after the communication was sent, the holder shall promptly attempt to contact the owner by first class United States mail.  If the mail is returned to the holder undelivered by the United States Postal Service, the holder shall be deemed to have lost contact with the owner on the date of the owner's last indication of interest in the property.

7. Notice to owners shall be provided in accordance with section 1301.10a.

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Cite this article: FindLaw.com - Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 1301.6. Property held by business associations - last updated January 01, 2026 | https://codes.findlaw.com/pa/title-72-ps-taxation-and-fiscal-affairs/pa-st-sect-72-1301-6/

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