Code of Alabama
Division 10 - Miscellaneous Provisions.
Section 45-49A-63.195 - Prevention of Escheat.

If the board cannot ascertain the whereabouts of any person to whom a payment is due under the plan, the board may, after such payment is due and prior to the funds escheating to the city or the State of Alabama under any applicable escheat laws, mail a notice of such due and owing payment to the last known address of such person as shown on the records of the board or the city. If such person has not made written claim therefor within three months of the date of the mailing, the board, if it so elects and upon receiving advice from counsel to the plan, may direct that such payment and all remaining payments otherwise due such person be canceled on the records of the plan and the amount thereof applied to reduce the contributions of the city. Upon such cancellation, the plan shall have no further liability therefore except that, in the event such person or his or her beneficiary later notifies the board of his or her whereabouts and requests the payment or payments due to him or her under the plan, the amount so applied shall be paid to him or her in accordance with the plan.

Structure Code of Alabama