- Alaska Statutes.
- Title 34. Property
- Chapter 45. Unclaimed Property
- Section 150. Checks, Drafts, and Similar Instruments Issued or Certified By Banking and Financial Organizations.
previous: Section 140
. Traveler's Checks and Money Orders.
next: Section 160
. Bank Deposits and Money in Financial Organizations.
AS 34.45.150. Checks, Drafts, and Similar Instruments Issued or Certified By Banking and Financial Organizations.
- (a) Other than money payable on an instrument that is subject to AS 34.45.140, money payable on a check, draft, or similar
instrument on which a banking or financial organization is directly liable, including a cashier's check and a certified
check, that has been outstanding for more than five years after it was payable or after its issuance if payable on
demand, is presumed abandoned. This presumption does not apply if the owner, within the preceding five years, has
communicated in writing with the banking or financial organization concerning the instrument or has otherwise indicated
an interest as evidenced by a memorandum or other record, on file, prepared by an employee of the organization.
- (b) A holder may not deduct from the amount of an instrument subject to this section a charge imposed for failure to
present the instrument for payment unless there is a valid and enforceable written contract between the holder and the
owner of the instrument under which the holder may impose a charge, and the holder regularly imposes the charges and
does not regularly reverse or otherwise cancel them.
All content © 2008 by Touch
N' Go/Bright Solutions, Inc.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2007. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.