SECTION 1. AMENDMENTS RELATING TO TREATMENT OF UNCLAIMED DEPOSITS AT 
              INSURED BANKS AND SAVINGS ASSOCIATIONS.

    Subsection (e) of section 12 of the Federal Deposit Insurance Act 
(12 U.S.C. 1822(e)) is amended to read as follows:
    ``(e) Disposition of Unclaimed Deposits._
        ``(1) Notices._
            ``(A) First notice._Within 30 days after the initiation of 
        the payment of insured deposits under section 11(f), the 
        Corporation shall provide written notice to all insured 
        depositors that they must claim their deposit from the 
        Corporation, or if the deposit has been transferred to another 
        institution, from the transferee institution.
            ``(B) Second notice._A second notice containing this 
        information shall be mailed by the Corporation to all insured 
        depositors who have not responded to the first notice, 15 
        months after the Corporation initiates such payment of insured 
        depositors.
            ``(C) Address._The notices shall be mailed to the last 
        known address of the depositor appearing on the records of the 
        insured depository institution in default.
        ``(2) Transfer to appropriate state._If an insured depositor 
    fails to make a claim for his, her, or its insured or transferred 
    deposit within 18 months after the Corporation initiates the 
    payment of insured deposits under section 11(f)_
            ``(A) any transferee institution shall refund the deposit 
        to the Corporation, and all rights of the depositor against the 
        transferee institution shall be barred; and
            ``(B) with the exception of United States deposits, the 
        Corporation shall deliver the deposit to the custody of the 
        appropriate State as unclaimed property, unless the appropriate 
        State declines to accept custody. Upon delivery to the 
        appropriate State, all rights of the depositor against the 
        Corporation with respect to the deposit shall be barred and the 
        Corporation shall be deemed to have made payment to the 
        depositor for purposes of section 11(g)(1).
        ``(3) Refusal of appropriate state to accept custody._If the 
    appropriate State declines to accept custody of the deposit 
    tendered pursuant to paragraph (2)(B), the deposit shall not be 
    delivered to any State, and the insured depositor shall claim the 
    deposit from the Corporation before the receivership is terminated, 
    or all rights of the depositor with respect to such deposit shall 
    be barred.
        ``(4) Treatment of united states deposits._If the deposit is a 
    United States deposit it shall be delivered to the Secretary of the 
    Treasury for deposit in the general fund of the Treasury. Upon 
    delivery to the Secretary of the Treasury, all rights of the 
    depositor against the Corporation with respect to the deposit shall 
    be barred and the Corporation shall be deemed to have made payment 
    to the depositor for purposes of section 11(g)(1).
        ``(5) Reversion._If a depositor does not claim the deposit 
    delivered to the custody of the appropriate State pursuant to 
    paragraph (2)(B) within 10 years of the date of delivery, the 
    deposit shall be immediately refunded to the Corporation and become 
    its property. All rights of the depositor against the appropriate 
    State with respect to such deposit shall be barred as of the date 
    of the refund to the Corporation.
        ``(6) Definitions._For purposes of this subsection_
            ``(A) the term `transferee institution' means the insured 
        depository institution in which the Corporation has made 
        available a transferred deposit pursuant to section 11(f)(1);
            ``(B) the term `appropriate State' means the State to which 
        notice was mailed under paragraph (1)(C), except that if the 
        notice was not mailed to an address that is within a State it 
        shall mean the State in which the depository institution in 
        default has its main office; and
            ``(C) the term `United States deposit' means an insured or 
        transferred deposit for which the deposit records of the 
        depository institution in default disclose that title to the 
        deposit is held by the United States, any department, agency, 
        or instrumentality of the Federal Government, or any officer or 
        employee thereof in such person's official capacity.''.

SEC. 2. EFFECTIVE DATE.

    (a) In General._The amendments made by section 1 of this Act shall 
only apply with respect to institutions for which the Corporation has 
initiated the payment of insured deposits under section 11(f) of the 
Federal Deposit Insurance Act after the date of enactment of this Act.
    (b) Special Rule for Receiverships in Progress._Section 12(e) of 
the Federal Deposit Insurance Act as in effect on the day before the 
date of enactment of this Act shall apply with respect to insured 
deposits in depository institutions for which the Corporation was first 
appointed receiver during the period between January 1, 1989 and the 
date of enactment of this Act, except that such section 12(e) shall not 
bar any claim made against the Corporation by an insured depositor for 
an insured or transferred deposit, so long as such claim is made prior 
to the termination of the receivership.
    (c) Information to States._Within 120 days after the date of 
enactment of this Act, the Corporation shall provide, at the request of 
and for the sole use of any State, the name and last known address of 
any insured depositor (as shown on the records of the institution in 
default) eligible to make a claim against the Corporation solely due to 
the operation of subsection (b) of this section.
    (d) Definition._For purposes of this section, the term 
``Corporation'' means the Federal Deposit Insurance Corporation, the 
Resolution Trust Corporation, or the Federal Savings and Loan Insurance 
Corporation, as appropriate.







                               Speaker of the House of Representatives.







                            Vice President of the United States and    
                                               President of the Senate.
Output: Amends the Federal Deposit Insurance Act to require the Federal Deposit Insurance Corporation (FDIC) to send:  (1) a first notice to all insured depositors within 30 days after beginning to pay off depositors that they must claim their deposits from the FDIC (or from any transferee institution if the deposit has been transferred); and (2) a second notice after 15 months after beginning to pay off depositors to all those who have not responded to the first notice. Requires the FDIC to transfer, within 18 months after beginning to pay off depositors, any unclaimed deposits to the State of a depositor's last known address (or, if the address is outside the United States, to the State in which the failed institution had its main office).  Permits an insured depositor to claim from the FDIC after the 18-month period any deposit a State has refused to accept, but only until the receivership is terminated. 
Permits States to keep an unclaimed deposit for ten years, after which, if remaining unclaimed, it must refund the deposit to the FDIC. 
Makes a specified rule for receiverships in progress before the enactment of this Act.