Forgotten or misplaced property held by companies and organizations in Alberta, starting from dormant financial institution accounts and uncashed cheques to forgotten security deposit field contents and insurance coverage proceeds, represent a major pool of sources. For instance, a deceased particular person’s funding portfolio may be thought-about such an asset if no inheritor steps ahead.
Returning these property to their rightful house owners strengthens the Albertan financial system and reinforces public belief in monetary establishments. Provincial laws mandates the reporting and remittance of those holdings to safeguard them and facilitate their return. Traditionally, governments have performed an important function in managing these sources, guaranteeing they don’t seem to be completely misplaced or misused.
