Alabama Administrative Code Title 892 - STATE TREASURER'S OFFICE
Here’s a thoroughly updated overview of Alabama Administrative Code – Title 892: State Treasurer’s Office, which includes three main chapters:
📘 Chapters in Title 892
Chapter 892‑X‑1 – General Instructions
Establishes general administrative rules for the Treasurer’s Office, including operational guidelines and record-keeping standards.
Notably includes the SAFE (Security for Alabama Funds Enhancement) Program, which requires:
A current listing of Qualified Public Depositories (QPDs) and SAFE forms be maintained and publicly accessible (regulations.justia.com).
20% deposit concentration limits and confidentiality provisions: confidential data may only be viewed by specified personnel .
Chapter 892‑1‑1 – The Linked Deposit Program
Governs the Linked Deposit Program: a state-backed low-interest loan initiative.
Sets rules for eligible participants (e.g., banks, credit unions), application processes, and reporting—ensuring alignment with statutory mandates (Code § 41‑14A‑X).
Chapter 892‑2‑1 – Unclaimed Property Division
Defines all regulations related to unclaimed property:
🔹 Table of Contents
Covers purpose, definitions, holder reporting, safe deposit box procedures, auctions, confidentiality, claims, and asset disposition (admincode.legislature.state.al.us, admincode.legislature.state.al.us).
🔸 Holder Reporting & Safe Deposit Boxes
Holders must file annual unclaimed property reports by November 1; under $50 items may be aggregated (admincode.legislature.state.al.us).
For safe deposit boxes, detailed inventories and secure shipping protocols are required (admincode.legislature.state.al.us).
🔸 Public Auctions & Confidentiality
Certain older coins, currency, and collectible items may be sold via public or online auction; military honors are excluded .
Confidential information must be marked and recipients held harmless for disclosure liability (admincode.legislature.state.al.us).
🔸 Claim Process (Rule 892‑2‑1‑.08)
The Treasurer’s Office evaluates claims based on a “preponderance of evidence” (law.cornell.edu).
Claimants may file by affidavit if under $300 (owner) or $3,000 (heir) (law.cornell.edu).
Estate claims processed through the estate; sovereign immunity prohibits garnishment against the Treasury for claims (admincode.legislature.state.al.us).
🔸 Forms & Procedures (Rule 892‑2‑1‑.07)
Only official forms are acceptable, must remain unaltered, and generally must be in English; all available via the Treasurer’s website (admincode.legislature.state.al.us).
🔸 Disposition of Property
Securities are sold at prevailing market prices unless stock sale is suspended during national economic downturns; property may be destroyed or displayed if historical value is found (admincode.legislature.state.al.us).
✅ Summary
Title 892 sets out:
Governance for fund security through SAFE (ch. X‑1);
Rules enabling low-interest loans via the Linked Deposit Program (ch. 1‑1);
A comprehensive unclaimed property framework—including reporting requirements, claim procedures, auctions, and asset disposition (ch. 2‑1).
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