01. Deposit of funds by Administrator. (a) The Administrator shall deposit all funds received under this chapter, including proceeds from the sale of property under subchapter VII of this chapter, into an account in the General Fund designated the Unclaimed Property Account. For each fiscal year, the Administrator shall designate an amount in the Unclaimed Property Account to be held for the payment of claims that reflects the Administrator's reasonable estimate of the value of claims that will be asserted under this chapter during the fiscal year. Funds in the Unclaimed Property Account that exceed this designated amount may be used to pay the costs of administering the unclaimed property program established in this chapter and to satisfy the District's cash flow needs during the fiscal year. (b) All assets, liabilities, and unexpended balances of funds in the trust fund created by § 41-123, shall be transferred to the Unclaimed Property Account established under subsection (a) of this section on the October 1, 2021. (Nov. 13, 2021, D.C. Law 24-45, § 7048, 68 DCR 010163.)
District of Columbia Legal Code