North Dakota Code 47-30.2-45 – (802) Administrator to retain records of property
Current as of: 2023 | Check for updates
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The administrator shall:
Terms Used In North Dakota Code 47-30.2-45
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
- Property: includes property, real and personal. See North Dakota Code 1-01-49
1. Record and retain the name and last-known address of each person shown on a report filed under section 47-30.2-21 to be the apparent owner of property delivered to the administrator; 2. Record and retain the name and last-known address of each insured or annuitant and beneficiary shown on the report; 3. For each policy of insurance or annuity contract listed in the report of an insurance company, record and retain the policy or account number, the name of the company, and the amount due or paid; and
4. For each apparent owner listed in the report, record and retain the name of the holder that filed the report and the amount due or paid.