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Committee recommends accepting state law allowing city to reclaim unclaimed funds
Summary
Finance committee voted to refer to the full City Council an order to accept Mass. Gen. Laws ch. 200A, ' 9A, which sets a procedure for the city to post and reclaim unclaimed funds (checks and similar items) and record unclaimed amounts as general-fund revenue after required notices and waiting periods.
The Committee on Finance voted to refer to the full City Council an order from Mayor Mitchell to accept Massachusetts General Laws chapter 200A, section 9A, which provides a municipal procedure for disposing of abandoned and unclaimed funds.
John (Treasury) explained that acceptance of ch. 200A, ' 9A would allow the city to post a notice of apparent owners of funds held by the city, instruct claimants how to pursue those funds, and after…
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