SECTION 1. Section 34A of chapter 90 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by striking out, in lines 23 through 25, the following words:- “: or the certificate of the state treasurer stating that cash or securities have been deposited with said treasurer as provided in section thirty-four D”.
SECTION 2. Said chapter 90, as so appearing, is hereby further amended by striking out section 34D in its entirety.
SECTION 3. Notwithstanding any general or special law to the contrary, any cash or securities that have been deposited with the state treasurer pursuant to said section 34D shall be retained for a period of 5 years after the effective date of this act. After such 5 year period, provided the state treasurer has not received actual notice of a claim pending against the applicant or depositor, such cash or securities may be refunded by the state treasurer.
SECTION 4. Not later than 6 months following the effective date of this act, the state treasurer shall, at a minimum, send written notice by mail to the address of record of all depositors or applicants who have cash or securities on deposit with the state treasurer pursuant to said section 34D informing the depositor or applicant of the provisions and effective date of this act.
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