Subchapter C. ABANDONED AND UNCLAIMED PROPERTY
Sec.
951.31. Audit of holder records.
951.32. Proceeding to compel payment or delivery.
951.33. Assertion of property claims.
Source The provisions of this Subchapter C adopted August 3, 2007, effective August 4, 2007, 37 Pa.B. 4195, unless otherwise noted.
§ 951.31. Audit of holder records.
(a) A holder subject to an examination of records as provided for in section 1301.23(a) of the act (72 P. S. § 1301.23(a)) shall comply with requests by the State Treasurer or an authorized third party to make records available for examination.
(b) When a holder’s records do not exist or are insufficient for examination, the State Treasurer may apply sampling and estimation procedures to determine a holder’s liability. These procedures will be applied in accordance with standards of the American Institute of Certified Public Accountants (AICPA) and the United States General Accounting Office (USGAO).
(c) A holder who is aggrieved by a summary of audit findings may file a petition for review under Subchapter B (relating to review of administrative decisions). If the petition is not timely filed, the summary of audit findings will be deemed to be a final demand due and payable within 30 days after the expiration of the filing period in § 951.21(c) (relating to petitions for review).
§ 951.32. Proceeding to compel payment or delivery.
If a holder fails to pay or deliver property subject to the Department’s final demand, along with an accompanying holder report, the State Treasurer may bring an enforcement action in a court of appropriate jurisdiction under section 1301.24 of the act (72 P. S. § 1301.24).
§ 951.33. Assertion of property claims.
(a) A claimant for abandoned and unclaimed property under the custody and control of the Department shall submit forms and documentation required by the Bureau.
(b) A claimant upon whose claim the Bureau has taken no action within 90 days after all forms and documentation were submitted may bring an action in Commonwealth Court under section 1301.21 of the act (72 P. S. § 1301.21).
(c) A claimant whose claim the Bureau denies may file a petition for review under Subchapter B (relating to review of administrative decisions).
(d) A claimant who is aggrieved by the presiding officer’s final decision and order on a petition for review of property claim may commence an action in Commonwealth Court within 30 days after the entry of the order in accordance with section 1301.21 of the act. The action shall be tried de novo without a jury.
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