(a) (1) Within twelve months following
the date of the enactment of this part, the Comptroller shall publish
formal notice in the Federal Register that all claims to rights of
any claimant to obtain title to, or custody or possession of, any
unclaimed property in the possession, custody, or control of the Comptroller
must be filed within twelve months following the last date of publication
of such formal notice in the Federal Register or shall thereafter
be barred.
(2) Such
notice shall contain the names of last known owners, if any, names
and locations of affected closed banks, and a general description
of the types of unclaimed property held by the Comptroller. The Comptroller
may provide additional notice in local communities as it deems appropriate.
(3) (A) The Comptroller shall not
disclose, by publication, inspection or otherwise, information relating
to the ownership or description of any specific unclaimed property
prior to publication of formal notice under this section.
(B) Thereafter, the Comptroller
shall disclose descriptive information of specific unclaimed property
only to a claimant thereof. The Comptroller may recoup expenses associated
with any publication or other provision of notice from any sale of
property authorized by this part. Reasonable opportunity for inspection
of specific property by a claimant thereof shall be provided in Washington,
District of Columbia.
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(b) (1) The Comptroller shall deliver
such property to any claimant or his or her legally authorized representative
upon receiving proof deemed adequate by the Comptroller that such
claimant is entitled to the property, but only if the claimant files
for the property within twelve months following the last date formal
notice is published in the Federal Register.
(2) (A) The Comptroller
shall have authority to determine the validity of all claims filed.
The Comptroller may recoup expenses associated with the handling and
processing of claims from any sale of property authorized by this
part.
(B) All expenses
associated with the delivery of any property shall be borne by the claimant.
The Comptroller shall not be responsible for any loss in connection
with the handling, storage, or delivery of any property to the claimant.
The Comptroller may require the claimant to purchase insurance to
cover the risk of any loss.
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(c) (1) If, after twelve months from
the date formal notice is published in the Federal Register, any such
property remains in the possession, custody, or control of the Comptroller
for which no valid claim has been filed, all rights, title, and interest
in such property shall immediately be vested in the United States.
(2) The Comptroller shall
thereupon, in his discretion, sell, use, destroy, or otherwise dispose
of any such unclaimed property. Such disposition may include donations
to the Smithsonian Institution for addition to the national collection.
(3) The proceeds of any
sale authorized by this section, after recoupment by the Comptroller
of any expenses incurred hereunder, shall be covered into the Treasury
as miscellaneous receipts.
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(d) The United
States, the Comptroller, or any officer, employee, or agent thereof
shall not be subject to personal or legal liability for any determination
as to the validity of any claim or claims filed under this part or
for any delivery, sale, destruction, or other disposition of unclaimed
property.
(e) (1) A court action
to determine legal ownership, entitlement, or right to possession
may be filed in any State or Federal court of competent jurisdiction
other than against the United States, the Comptroller, or any officer,
agent, or employee thereof.
(2) Such actions shall be determined de
novo without regard to any agency determination or any disposition
or delivery by the Comptroller of any particular property to any person.
(3) The United States,
the Comptroller, or any officer, employee, or agent thereof shall
neither be a party to any such judicial proceeding nor be bound by
any decision, decree, or order resulting therefrom.
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(f) (1) The United States Claims Court
shall have exclusive jurisdiction to hear and determine any suit brought
against the United States, the Comptroller, or any officer, employee,
or agent thereof with regard to any determination of a claim or the
disposition of any unclaimed property.
(2) The United States Claims Court may
set aside actions of the Comptroller only if such actions are found
to be arbitrary, capricious, an abuse of discretion, or otherwise
not in accordance with law.
(3) All claims for which the United States
Claims Court has jurisdiction under this subsection shall be barred
unless suit is filed within two years from the date of expiration
of the twelve-month notice period provided by this part.
(4) For purposes of section
1491 of title 28, United States Code, any Claim against the Comptroller,
the United States, or any officer, employee, or agent thereof shall
be considered a claim against the United States.
[12 USC 216b. As added
by act of Oct. 15, 1982 (96 Stat. 1513). ] Section 902 of act of Oct.
29, 1992 (106 Stat. 4516) provided that “the ‘United States Claims
Court’ shall be deemed to refer to the ‘United States Court of Federal
Claims’.”
