12 U.S.C. § 2501 : US Code - Section 2501: Congressional findings and declaration of purpose

Search 12 U.S.C. § 2501 : US Code - Section 2501: Congressional findings and declaration of purpose

The Congress finds and declares that -
(1) the books and records of banking and financial
organizations and business associations engaged in issuing and
selling money orders and traveler's checks do not, as a matter of
business practice, show the last known addresses of purchasers of
such instruments;
(2) a substantial majority of such purchasers reside in the
States where such instruments are purchased;
(3) the States wherein the purchasers of money orders and
traveler's checks reside should, as a matter of equity among the
several States, be entitled to the proceeds of such instruments
in the event of abandonment;
(4) it is a burden on interstate commerce that the proceeds of
such instruments are not being distributed to the States entitled
thereto; and
(5) the cost of maintaining and retrieving addresses of
purchasers of money orders and traveler's checks is an additional
burden on interstate commerce since it has been determined that
most purchasers reside in the State of purchase of such
instruments.