Article 1(Escheat to National Treasury) #
(1) Public or private money held in the Government's custody (hereinafter referred to as "money in custody") pursuant to any Act or subordinate statute shall escheat to the National Treasury, except as otherwise provided in other statutes, unless a request for refund thereof is made by not later than five years from the date on which any of the following subparagraphs applies: <Amended on Mar. 31, 2020>
1. Money in custody with a deadline after which the obligation to retain terminates: Date after such obligation terminates;
2. Money in custody without a deadline after which the obligation to retain terminates: Date after such money is taken into the Government's custody;
3. Money in custody, the refund of which cannot be requested because a lawsuit therefor is filed: Date after the relevant judgment becomes final and conclusive.
(2) The head of each central government agency shall pre-notify a person who has a right to claim a refund, as prescribed by Decree of the Ministry of Finance and Economy, of the fact that the person has a right to claim the refund of the relevant money in custody before the right granted to the person is extinguished by prescription in accordance with paragraph (1). <Added on Mar. 31, 2020; Oct. 1, 2025>
[This Article Wholly Amended on Dec. 29, 2009]
Article 2(Interest) #
Money in custody shall not bear interest unless any Act or subordinate statute or any contract provides otherwise.
[This Article Wholly Amended on Dec. 29, 2009]
Article 3(Prohibition of sale) #
No custody certificate may be the subject matter of sale, transfer or pledge.
[This Article Wholly Amended on Dec. 29, 2009]
Article 4(Tax exemption) #
No revenue stamp needs to be affixed to a certificate of deposition of money in custody.
[This Article Wholly Amended on Dec. 29, 2009]
Article 4-2(Provisions applicable mutatis mutandis) #
With respect to receipt, disbursement, and keeping of money in custody, Articles 35, 37, 38, 40, 45 and 46 of the Management of the National Funds Act shall apply mutatis mutandis.
[This Article Wholly Amended on Dec. 29, 2009]
Article 5 #
Deleted. <Dec. 29, 2009>