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2018 Delaware Code
Title 12 - Decedents' Estates and Fiduciary Relations
CHAPTER 11. ESCHEATS
Subchapter V Escheat of Postal Savings System Accounts
§ 1224. Collection and deposit of funds; indemnification of United States.
Universal Citation: 12 DE Code § 1224 (2018)
(a) The Secretary of State shall present a copy of each final judgment of escheat to the United States Treasury Department for payment of the principal due and the interest computed under regulations of the United States Treasury Department. The payment received shall be deposited in the General Fund in the State Treasury.
(b) This State shall indemnify the United States for any losses suffered as a result of the escheat of unclaimed postal savings system accounts. The burden of the indemnification falls upon the fund into which the proceeds of the escheated accounts have been paid.
12 Del. C. 1953, § 1224; 58 Del. Laws, c. 329; 58 Del. Laws, c. 426, § 18.
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