§ 116B-73 – Retention of records.
116B-73. Retention of records. (a) Except as otherwise provided in subsection (b) of this section, a holder required to file a report under G.S. 116B-60 shall maintain the records containing the information required to be included in the report for five years after the holder files the report, unless a shorter period is provided by […]
§ 116B-61 – Payment or delivery of abandoned property.
116B-61. Payment or delivery of abandoned property. (a) Upon filing the report required by G.S. 116B-60, the holder of property presumed abandoned shall pay, deliver, or cause to be paid or delivered to the Treasurer the property described in the report, but if the property is an automatically renewable deposit, and a penalty or forfeiture […]
§ 116B-62 – Preparation of list of owners by Treasurer.
116B-62. Preparation of list of owners by Treasurer. (a) There shall be delivered annually in an electronic format to the Administrative Office of the Courts to be distributed to the clerk of superior court of each county a list prepared by the Treasurer of escheated and abandoned property reported to the Treasurer. The list shall […]
§ 116B-63 – Custody by State; recovery by holder; defense of holder.
116B-63. Custody by State; recovery by holder; defense of holder. (a) In this section, payment or delivery is made in "good faith" if all of the following apply: (1) Payment or delivery was made in a reasonable attempt to comply with this Chapter. (2) The holder was not then in breach of a fiduciary obligation […]
§ 116B-64 – Loss, income, or gain accruing after payment or delivery.
116B-64. Loss, income, or gain accruing after payment or delivery. If property other than money is delivered to the Treasurer under this Chapter, the owner is entitled to receive from the Treasurer any income or gain realized or accruing on the property at or before liquidation or conversion of the property into money. If the […]
§ 116B-65 – Public sale of abandoned property.
116B-65. Public sale of abandoned property. (a) Except as otherwise provided in this section, the Treasurer, within five years after the receipt of abandoned property, shall sell it to the highest bidder at public sale at a location in the State which in the judgment of the Treasurer affords the most favorable market for the […]
§ 116B-66 – Claim of another state to recover property.
116B-66. Claim of another state to recover property. (a) After property has been paid or delivered to the Treasurer under this Article, another state may recover the property if: (1) The property was paid or delivered to the custody of this State because the records of the holder did not reflect a last known location […]
§ 116B-67 – Claim for property paid or delivered to the Treasurer.
116B-67. Claim for property paid or delivered to the Treasurer. (a) A person, excluding another state, claiming property paid or delivered to the Treasurer may file a claim on a form prescribed by the Treasurer and verified by the claimant if the amount claimed exceeds five thousand dollars ($5,000). For all other claims, the Unclaimed […]
§ 116B-68 – Action to establish claim.
116B-68. Action to establish claim. A person aggrieved by a decision of the Treasurer or whose claim has not been acted upon within 90 days after its filing may maintain an original action to establish the claim in the Superior Court of Wake County, naming the Treasurer as a defendant. (1999-460, s. 6.)
§ 116B-69 – Election to take payment or delivery.
116B-69. Election to take payment or delivery. (a) The Treasurer may decline to receive property reported under this Chapter which the Treasurer considers to have a value less than the expenses of notice and sale. (b) A holder, with the written consent of the Treasurer and upon conditions and terms prescribed by the Treasurer, may […]