(Hereinafter, the "ISDA", is an Integrated Auxiliary of the G47 Global Initiative)

Inactive ICO Vesting Accounts
and Escheat Policy

(Applies to iCovestor as IVA Holders, G47 Sponsored CPOs, SDIRAs, and any Non-Bank P2P Exchanges)

Definition: An inactive ICO Vesting Account (hereinafter, "IVA") is one that has been dormant for a specified period of time.  For the purposes of this Inactive ICO Vesting Account Policy, “inactive” means there has been no log-in, top-off, exchange, withdrawal or other communication from you about your IVA for the period of time as follows:

  • after 3 months for establishing a basic IVA;
     

  • after 6 months for a top-off subscription; or
     

  • after IVA contributions have vested at least 12 months and one (1) day.

If there is no change in your IVA balance as described above, or you have a zero balance, we reserve the right to close the IVA with or without notice.  Any linked accounts linked will be de-linked as part of the closure process.

 

For security reasons, we may refuse a withdrawal, transfer or exchange from an account we internally classify as suspicious or inactive if we cannot reach you in a timely fashion to confirm authorization.  For the purposes of this Inactive IVA Policy, the term “suspicious” also includes inactivity for an extended period of time followed by a sudden interest in one or more aspects of your account that does not align with the original intent for which you established your IVA.

 

There are no fees associated for this administrative dissolution process.

 

Other definitions that may apply to this Inactive IVA Policy:

  • Holder: Any person in possession of property belonging to another, for example, a trustee in the case of a trust.
     

  • Owner: A depositor in the case of a deposit, an iCovestor in the case of an IVA, a beneficiary in case of a trust, or creditor, claimant, or payee in other cases, or any person having a legal or equitable interest in property, or his/her legal/fiduciary representative.
     

  • Unclaimed Property: Any asset that has been left inactive by the owner by the end of the inactive period.
     

  • Escheat: A common law doctrine that transfers the real property of a person who has died without heirs to the crown or state.  It serves to ensure that property is not left in "limbo" without recognized ownership. It is a term that is used to describe the process of transferring an account balance after an account has been dormant.

Inactive IVA and Escheat Policy (v.20200301-IIAEP)

Important Notice: We reserve the right to gift any unclaimed IVA account balance to the G47 Grainhouse Initiative, a.k.a., the Community Stabilization Fund, if our attempts to find you (or your beneficiary as provided in your GPA disclosure) within a 90-day period have failed.

*** Updated circa March 2020

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IMPORTANT MESSAGE: ISDASilver.org is a website owned and operated by the International Silver Dollar Association an Ecclesiastical State Integrated Auxiliary Trust operating by rule of necessity as an Unincorporated Association (hereinafter, “ISDA”).  We are a Faith Based Organization qualified under Title 26 U.S. Code § 508c(1)a Non-Assumptive 28 U.S. Code § 1746 (1).  By accessing the website and any pages thereof, you agree to  the binding terms of use of all ISDA Policies & Agreements, as each may be amended from time to time.  ISDA is not a registered broker, dealer, investment adviser, investment manager or registered funding portal.  Any and all private offerings on this site are available without contravention of Rule 506(b) of Regulation D, as “safe harbor” under Section 4(a)(2) of the Securities Act, and pursuant to the iCovestor Relationship & Royalty Sharing Covenant made in acquiescence at the time of any like kind exchange for any goods, services, and/or subscription made in the medium and measurement of silver in the form of U.S. Treasury Minted American Silver Eagle Coined money (Measured Digitally and/or Physically exchanged thereof as an Intentional Community Opportunity (-ies), a.k.a. “ICO” or "ICOs").

The information contained on this site is provided for informational purposes as a service to the public as part of the mission of the ISDA and does not constitute legal or tax advice.  Legal Information is not the same as Legal Advice.  Some of the information on this site and corresponding emails provide information about law designed to help users safely cope with their own Faith Based Organization needs.   The application of law varies depending on many circumstances. The laws of every state are in constant change, and although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that this educational information, and your interpretation of it, is appropriate to your particular situation.

 

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