Connecticut SB 215: AN ACT INCENTIVIZING EDUCATIONAL AND WORKFORCE ACHIEVEMENT AS A MEANS OF REDUCING A PROBATIONER'S TERM OF SUPERVISION.

Bill Text

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General Assembly Substitute Bill No. 215
February Session, 2026

AN ACT CONCERNING THE PRESUMPTION OF ABANDONMENT OF
CERTAIN PROPERTY HELD OR OWING BY A BANKING
ORGANIZATION.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

Section 1. Subsection (a) of section 3-57a of the general statutes is 1
repealed and the following is substituted in lieu thereof (Effective October 2
1, 2026): 3
(a) The following property held or owing by a banking or financial 4
organization is presumed abandoned unless the owner thereof is known 5
to be living by an officer of such organization: 6
(1) Any demand or savings deposit made in this state with a banking 7
organization, together with any interest or dividend thereon, excluding 8
any charges that lawfully may be withheld, unless the owner has, within 9
three years: (A) (i) Increased or decreased the amount of the deposit or 10
the amount of any other demand or savings deposit contained in any of 11
the owner's accounts with the banking organization, or (ii) presented the 12
passbook or other similar evidence of the deposit, or of any other 13
demand or savings deposit contained in any of the owner's accounts 14
with the banking organization, for the crediting of interest; or (B) 15
corresponded in writing with the banking organization concerning the 16
deposit; or (C) otherwise indicated an interest in the deposit as 17

Substitute Bill No. 215

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evidenced by (i) a memorandum on file with the banking organization, 18
[or] (ii) the fact that the Internal Revenue Service Form 1099 sent from 19
the banking organization to the owner is not returned to the banking 20
organization by the United States Postal Service, or (iii) the owner 21
making a payment to the banking organization for the principal or 22
interest due on a loan made by the banking organization to the owner. 23
(2) Any matured time deposit made in this state with a banking 24
organization, together with any interest or dividend thereon, excluding 25
any charges that lawfully may be withheld, unless, within three years 26
or, if the terms of the deposit account contract provide that the time 27
deposit will be renewed unless the banking [institution] organization 28
receives instructions to the contrary from the owner, within three years 29
plus such additional time as is necessary to allow the renewed time 30
deposit to reach maturity, the owner has: (A) Increased or decreased the 31
amount of the deposit, or presented the passbook or other similar 32
evidence of the deposit for the crediting of interest, or (B) corresponded 33
in writing with the banking organization concerning the deposit, or (C) 34
otherwise indicated an interest in the deposit as evidenced by (i) a 35
memorandum on file with the banking organization, or (ii) the fact that 36
the Internal Revenue Service Form 1099 sent from the banking 37
organization to the owner is not returned to the banking organization 38
by the United States Postal Service. 39
(3) Any funds paid in this state toward the purchase of shares or other 40
interest in a financial organization or any deposit made therewith, and 41
any interest or dividends thereon, excluding any charges that lawfully 42
may be withheld, unless the owner has within three years: (A) Increased 43
or decreased the amount of the investment or deposit, or presented an 44
appropriate record for the crediting of interest or dividends thereon; or 45
(B) corresponded in writing with the financial organization concerning 46
the investment or deposit; or (C) otherwise indicated an interest in the 47
funds as evidenced by (i) a memorandum on file with the financial 48
organization, or (ii) the fact that the Internal Revenue Service Form 1099 49
sent from the financial organization to the owner is not returned to the 50
financial organization by the United States Postal Service. 51

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(4) Any sum payable on checks certified in this state or on written 52
instruments issued in this state on which a banking or financial 53
organization is directly liable, including, but not limited to, money 54
orders, drafts and traveler's checks, which has been outstanding for 55
more than three years from the date payable, or from the date of its 56
issuance if payable on demand, unless the owner has within such three 57
years corresponded in writing with the banking or financial 58
organization concerning it, or otherwise indicated an interest as 59
evidenced by (i) a memorandum on file with the banking or financial 60
organization, or (ii) the fact that the Internal Revenue Service Form 1099 61
sent from the banking or financial organization to the owner is not 62
returned to the banking or financial organization by the United States 63
Postal Service. 64
(5) Any funds or other personal property reposing in or removed 65
from a safe deposit box or any other safekeeping repository in this state 66
on which the lease or rental pe