§ 1522.Charge Or Fee Imposed Because of Inactive Or Unclaimed Status

Some of the sections in this chapter allow a limited, capped service charge for sending an escheat-warning notice, and Section 1522 makes sure that narrow permission does not turn into a broader excuse to nickel-and-dime dormant property. No service, handling, maintenance, or other charge of any kind that is imposed because of the inactive or unclaimed status this chapter addresses may be deducted or withheld from property subject to escheat, unless this chapter specifically permits it.

The section then closes an obvious loophole. Even where a charge is specifically permitted, a holder cannot impose it if, under its own ordinary policy or procedure, it would not have charged the same fee had the owner claimed the property before it was ever reported or remitted to the Controller. In other words, a holder cannot invent or resurrect a fee that only applies because the property happens to be escheating; the fee has to be one the holder would have charged anyway, regardless of whether the state ever got involved.