FORMERLY HOUSE BILL NO. 180
AN ACT TO AMEND SUBCHAPTER 11 OF CHAPTER 29, TITLE 21, DELAWARE CODE, RELATING TO CUSTODY, DISPOSITION AND RETURN OF SECURITY.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Amend Section 2924, Chapter 29, Title 21,
Delaware Code, by adding a new subsection (d) to read as follows:
(d) If, after three (3) years from the date of deposit, the depositor or his representative has not sought the return of such deposit or balance thereof as referred to in subsection (c) of this section:
(1) A registered notice shall be mailed to the depositor, or his personal representative, if his address be known or if it can be ascertained by the exercise of reasonable diligence.
(2) If the address cannot be ascertained through the exercise of reasonable diligence, the Director shall cause to be inserted in one or more newspapers published in the city or county where the depositor was last known to reside at least once each week for two successive weeks, a notice to the depositor, his heirs or representative of the intended disposition of the security.
(3) If after ten (10) days from the date of the final notice in the newspaper a reply has not been received, the Director shall deposit the unclaimed security or balance thereof to the credit of the State Treasurer as other receipts of the Division.
Approved June 11, 1971.