177.0207 When security presumed abandoned.

288 words·~1 min read·/wi/chapter-177/177-0207-3

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Subject to s. 177.0210 , a security is presumed to be abandoned 3 years after the following:

(a)The date on which a 2nd consecutive communication sent by the holder by 1st class mail to the apparent owner is returned to the holder by the U.S. postal service as undeliverable.

(b)If the 2nd communication is sent by the holder to the apparent owner later than 30 days after the date on which the first communication is returned to the holder by the U.S. postal service as undeliverable, the date on which the first communication was returned as undeliverable.

(2)If the holder does not send communications to the apparent owner of the security by 1st class mail, as described in sub.

(1), the holder shall attempt to confirm the apparent owner’s interest in the security by sending the apparent owner e-mail not later than 2 years after the apparent owner’s last indication of interest in the security, except that the holder shall promptly attempt to contact the apparent owner by 1st class mail if any of the following applies:

(a)The holder does not have information needed to send the apparent owner e-mail or the holder believes that the apparent owner’s e-mail address in the holder’s records is not valid.

(b)The holder receives notification that the e-mail was not received.

(c)The apparent owner does not respond to the e-mail within 30 days from the date on which the e-mail was sent.

(3)If 1st class mail sent under sub.

(2)is returned to the holder by the U.S. postal service as undeliverable, the security is presumed abandoned 3 years after the date on which the mail is returned.