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Can you summarize 21116.?
Investments and Deposits > Unclaimed or Unpaid Checks.
Short Summary
This legal document governs the treatment of unclaimed or unpaid checks issued by the Government of Guam. It states that checks or drafts that remain unclaimed or outstanding for more than one year from the date of issuance must be accounted for separately and recorded. After three years, unclaimed checks or drafts are cancelled, and the Director of Administration may issue new checks or drafts upon demand by the lawful claimant. Any outstanding checks or drafts presented within three years of the audit date can also be cancelled and replaced. However, checks or drafts that remain unclaimed or outstanding for more than three years from the audit date are paid into the Treasury as revenue of the General Fund. Additionally, the document includes provisions for the publishing of unclaimed tax refund checks, specifying guidelines for reporting and publishing in a publication of general circulation and on the official Department website. It also establishes a timeframe for claiming income tax refund checks and the deposit of unclaimed or outstanding checks into the Income Tax Refund Efficient Payment Trust Fund after ten years. The document references specific sections of the Guam Code Annotated for further administration and regulation.
Whom does it apply to?
Government of Guam
What does it govern?
Unclaimed or unpaid checks
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Guam