If there has been no account activity for an extended period of time, state laws require banks
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Question:
If there has been no account activity for an extended period of time, state laws require banks to turn the customers' property over to the state. State treasurers or comptrollers are responsible for holding the abandoned or lost property, which often includes money, watches, jewelry, and rare coins from abandoned safe deposit boxes. What rules should govern this property? How long should citizens have to claim it? What should the government do with unclaimed property?
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