Compliance Question of the Week

When is a certificate of deposit presumed abandoned in Oregon and Washington?  

A non-renewing certificate of deposit is presumed abandoned three years after maturity. If the certificate is automatically renewing, it is presumed abandoned three years after the expiration of the initial review period. If the certificate’s renewal period occurs in less than one year, abandonment begins after one year.

Related Links:

RCW 63.29.060
ORS 98.308

 

Questions? Contact the Compliance Hotline: 1.800.546.4465, compliance@nwcua.org.

Posted in Compliance.