12 USC § 216 - Purpose

---
identifier: "/us/usc/t12/s216"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 216 - Purpose"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "216"
section_name: "Purpose"
chapter_number: 2
chapter_name: "NATIONAL BANKS"
subchapter_number: "XVII"
subchapter_name: "DISPOSITION OF UNCLAIMED PROPERTY RECOVERED FROM CLOSED NATIONAL BANKS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
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.)"
---


# § 216. Purpose

The purpose of this subchapter is to dispose of unclaimed property in the possession, custody, or control of the Comptroller of the Currency by—

**(1)** providing final notice of the availability of unclaimed property from closed national banks;

**(2)** barring rights of claimants to obtain such property from the Comptroller after a reasonable period of time following such notice; and

**(3)** authorizing the Comptroller 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.)

## Editorial Notes

### Amendments

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