The Act specifies the conditions under which property is considered abandoned, creates a general presumption of abandonment of unclaimed property after five years, provides for public notice of abandoned property, and provides for the disposition, sale, reclaiming, and reimbursement for sale of abandoned property. In general, all property that is held, issued, or owing in the ordinary course of a holder's business and remains unclaimed by the owner for more than five years after it becomes payable or distributable, is presumed abandoned. "Holder" means a trustee or a person who possesses property belonging to another or is indebted to another on an obligation. Abandoned property is subject to the custody of the State as provided in the Act.