Tenn. Comp. R. & Regs. 1720-01-14-.04
Each campus or institute business office is responsible for performing due diligence on all stored value cards (VolCard, Mocs Card, Skyhawk Card, etc.) that have been inactive for at least one (1) year and a maximum of five (5) years and that have a balance of $50 or greater. Detailed information associated with these cards must be maintained at the campus or institute level. Each campus or institute must compile and transmit a file of names, addresses, and social security numbers of dormant account owners, along with amounts to the Controller's Office by October 1 of each year. The list will also include balances under $50 for which due diligence is not required. This effort must be coordinated with the Controller's Office.
Tenn. Comp. R. & Regs. 1720-01-14-.04
Authority: T.C.A. § 49-9-209(e) and Public Acts of Tennessee, 1839-1840, Chapter 98, Section 5, and Public Acts of Tennessee, 1807, Chapter 64.