North Dakota Code 6-06-34 – Unclaimed dividends of credit unions
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The commissioner shall transfer all unpaid dividends to the commissioner of university and school lands. The commissioner of university and school lands is authorized to issue a voucher for the payment of such dividends to the persons respectively entitled thereto, in accordance with the escheat and abandoned property laws of the state.
Terms Used In North Dakota Code 6-06-34
- Commissioner: means the commissioner of financial institutions. See North Dakota Code 6-01-02
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- Property: includes property, real and personal. See North Dakota Code 1-01-49
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49