Wisconsin Statutes 177.0502 – Contents of notice by holder
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Terms Used In Wisconsin Statutes 177.0502
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Property: includes real and personal property. See Wisconsin Statutes 990.01
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
(1) Notice under s. 177.0501 shall contain a heading that reads substantially as follows: “Notice. The State of Wisconsin requires us to notify you that your property may be transferred to the custody of the state’s unclaimed property administrator if you do not contact us before (the date that is 30 days after the date of the notice).”
(2) The notice under s. 177.0501 shall do all of the following:
(a) Identify the nature and, except for property that does not have a fixed value, the value of the property that is the subject of the notice.
(b) State that the property will be turned over to the administrator.
(c) State that after the property is turned over to the administrator an apparent owner that seeks return of the property shall file a claim with the administrator.
(d) State that the property may be sold by the administrator.
(e) Provide instructions that the apparent owner shall follow to prevent the holder from reporting and paying or delivering the property to the administrator.