§ 116B-70 – Destruction or disposition of property having no substantial commercial value; immunity from liability; property of historical significance.
116B-70. Destruction or disposition of property having no substantial commercial value; immunity from liability; property of historical significance. (a) If the Treasurer determines after investigation that property delivered under this Chapter has no substantial commercial value, the Treasurer may destroy or otherwise dispose of the property at any time. An action or proceeding may not […]
§ 116B-52 – Definitions.
116B-52. Definitions. In this Chapter: (1) "Apparent owner" means a person whose name appears on the records of a holder as the person entitled to property held, issued, or owing by the holder. (2) "Business association" means a corporation, joint stock company, investment company, partnership, unincorporated association, joint venture, limited liability company, business trust, trust […]
§ 116B-53 – Presumptions of abandonment.
116B-53. Presumptions of abandonment. (a) Property is unclaimed if the apparent owner has not communicated in writing or by other means reflected in a contemporaneous record prepared by or on behalf of the holder, with the holder concerning the property or the account in which the property is held, and has not otherwise indicated an […]
§ 116B-54 – Exclusion for forfeited reservation deposits, certain gift certificates or electronic gift cards, prepaid calling cards, certain manufactured home buyer deposits, certain credit balances, unclaimed lottery prizes, and certain merchandise credits.
116B-54. Exclusion for forfeited reservation deposits, certain gift certificates or electronic gift cards, prepaid calling cards, certain manufactured home buyer deposits, certain credit balances, unclaimed lottery prizes, and certain merchandise credits. (a) A forfeited reservation deposit is not abandoned property. For the purposes of this section, the term "reservation deposit" means an amount of money […]
§ 116B-54.1 – Unclaimed United States savings bonds.
116B-54.1. Unclaimed United States savings bonds. (a) U.S. Savings Bonds. – Except as otherwise provided in this section, the provisions of this Article apply to United States savings bonds. A United States savings bond is unclaimed and presumed abandoned if the owner of the savings bond fails to redeem the savings bond within three years […]
§ 116B-55 – Contents of safe deposit box or other safekeeping depository.
116B-55. Contents of safe deposit box or other safekeeping depository. (a) Contents of a safe deposit box or other safekeeping depository held by a financial organization is presumed abandoned if the apparent owner has not claimed the property within the period established by G.S. 53C-6-13 and shall be delivered to the Treasurer as provided by […]
§ 116B-56 – Rules for taking custody.
116B-56. Rules for taking custody. (a) Except as otherwise provided in this Chapter or by other statute of this State, property that is presumed abandoned, whether located in this or another state, is subject to the custody of this State if: (1) The last known address of the apparent owner, as shown on the records […]
§ 116B-57 – Dormancy charge; other lawful charges.
116B-57. Dormancy charge; other lawful charges. (a) A holder may deduct from property presumed abandoned a reasonable charge imposed by reason of the owner’s failure to claim the property within a specified time only if there is a valid and enforceable written contract between the holder and the owner under which the holder may impose […]
§ 116B-58 – Burden of proof as to property evidenced by record of check or draft.
116B-58. Burden of proof as to property evidenced by record of check or draft. A record of the issuance of a check, draft, or similar instrument is prima facie evidence of an obligation. In claiming property from a holder who is also the issuer, the Treasurer’s burden of proof as to the existence and amount […]
§ 116B-59 – Notice by holders to apparent owners.
116B-59. Notice by holders to apparent owners. (a) Repealed by Session Laws 2017-134, s. 2(a), effective October 1, 2017, and applicable to property presumed abandoned on or after that date. (a1) A holder of property that is presumed abandoned and that is either (i) a security or other equity interest in a business association, including […]