---
kind: "section"
citation: "12 U.S.C. § 216"
title: "12"
title_heading: "Banks and Banking"
number: "216"
heading: "Purpose"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/216"
units:
  - "Chapter 2 — National Banks"
  - "Subchapter XVII — Disposition of Unclaimed Property Recovered from Closed National Banks"
---

# §216. Purpose


The purpose of this subchapter is to dispose of [unclaimed property](/usc/12/216a.md?p=2) in the possession, custody, or control of the [Comptroller](/usc/12/215b.md?p=3) of the Currency by—

- (1) providing final notice of the availability of [unclaimed property](/usc/12/216a.md?p=2) from closed national banks;
- (2) barring rights of [claimants](/usc/12/216a.md?p=3) to obtain such property from the [Comptroller](/usc/12/215b.md?p=3) after a reasonable period of time following such notice; and
- (3) authorizing the [Comptroller](/usc/12/215b.md?p=3) to dispose of such property for which no claims have been filed and validated under this subchapter.

## Source credit

(Pub. L. 96–221, title VII, § 731, as added Pub. L. 97–320, title IV, § 408, Oct. 15, 1982, 96 Stat. 1513; amended Pub. L. 109–351, title VII, § 725(c)(1), Oct. 13, 2006, 120 Stat. 2001; Pub. L. 109–356, title I, § 123(c)(1), Oct. 16, 2006, 120 Stat. 2029.)

## Notes

### Editorial Notes

### Amendments

2006—Par. (1). Pub. L. 109–351 and 109–356 amended par. (1) identically, striking out “and closed banks in the District of Columbia” before semicolon at end.