N.D. Cent. Code § 10-15-34.1
This is the official text of N.D. Cent. Code § 10-15-34.1, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-15-34.1. Unclaimed distributions, redemptions, or payments
Official statutory text
10-15-34.1. Unclaimed distributions, redemptions, or payments
1. Any distribution of proceeds or redemption of, or payment based upon, any security by
a domestic cooperative, excluding all credit unions, which remains unclaimed six years
after the date authorized for retirement or payment in cash or other property, may be
forfeited by the board. Any amount forfeited shall revert to the domestic cooperative,
as contributed capital, if, at least six months prior to the declared date of forfeiture,
notice that such payment is available has been mailed to the last-known address of
the person shown by the records to be entitled thereto, or if the address is unknown,
notice is published under section 10-15-23.
2. This section applies to all such payments authorized before or after July 1, 1979.
1. Any distribution of proceeds or redemption of, or payment based upon, any security by
a domestic cooperative, excluding all credit unions, which remains unclaimed six years
after the date authorized for retirement or payment in cash or other property, may be
forfeited by the board. Any amount forfeited shall revert to the domestic cooperative,
as contributed capital, if, at least six months prior to the declared date of forfeiture,
notice that such payment is available has been mailed to the last-known address of
the person shown by the records to be entitled thereto, or if the address is unknown,
notice is published under section 10-15-23.
2. This section applies to all such payments authorized before or after July 1, 1979.
Status: in_force · Read it on the official government site
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