Section 4: Property deposited as security; presumption of abandonment
78 words·~1 min read·
/ma/part-ii/title-ii/chapter-200a/4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 4. Subject to the provisions of section one A, any deposit of property made to secure payment for services rendered or to be rendered, or to guarantee the performance of service or duties, or to protect against damage or harm, and the increments thereof, shall be presumed abandoned, unless claimed by the person entitled thereto within three years after the occurrence of the event that would obligate the holder or depository to return it or its equivalent.