The New Jersey Unclaimed Property Statute requires the University to remit any unclaimed accounts receivable credit balances or un-cashed student refund checks for New Jersey residents to the Department of the Treasury within three years. This remittance is due no later than November 1st of each year. Residents from states other than New Jersey are subject to the unclaimed property legislation of the state in which they reside.
The University will provide written notice via certified mail to students with unclaimed property prior to remitting these funds to the State of New Jersey. The notice will be sent two to three months prior to November, giving the student the opportunity to request payment of these funds.