Amendment on Escheatment of Unclaimed Bank Balances

Ask AI

PRESIDENTIAL DECREE NO. 679: Amendment on Escheatment of Unclaimed Bank Balances

What do you want to know about the law?
Ask AI quickly gives answers based only on the current context to avoid mistakes. Always verify with the original text.

New Chat Started

Ask AI

Title Source: Supreme Court: Amendment on Escheatment of Unclaimed Bank Balances

Law: Presidential Decree No. 679

Decision Date: Apr 2, 1975

Presidential Decree No. 679 simplifies the process of escheating unclaimed balances, reduces associated expenses, and requires banks and institutions to transfer these balances to the Treasurer of the Philippines, while also providing provisions for the publication of a sworn statement and commencement of judicial proceedings for escheat.

END