N.D. Cent. Code § 6-08.6-12
This is the official text of N.D. Cent. Code § 6-08.6-12, 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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6-08.6-12. Term and termination
Official statutory text
6-08.6-12. Term and termination
1. Unless otherwise provided in the account agreement, a special deposit terminates five
years after the date the special deposit was first funded.
2. Unless otherwise provided in the account agreement, if the bank or credit union cannot
identify or locate a beneficiary entitled to payment when the special deposit is
terminated, and a balance remains in the special deposit, the bank or credit union shall
pay the balance to the depositor as a beneficiary.
3. A bank or credit union that pays the remaining balance as provided under subsection 2
has no further obligation with respect to the special deposit.
1. Unless otherwise provided in the account agreement, a special deposit terminates five
years after the date the special deposit was first funded.
2. Unless otherwise provided in the account agreement, if the bank or credit union cannot
identify or locate a beneficiary entitled to payment when the special deposit is
terminated, and a balance remains in the special deposit, the bank or credit union shall
pay the balance to the depositor as a beneficiary.
3. A bank or credit union that pays the remaining balance as provided under subsection 2
has no further obligation with respect to the special deposit.
Status: in_force · Read it on the official government site
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