New Hampshire Revised Statutes 471-C:3 – General Conditions Precedent to Presumption of Abandonment
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Unless otherwise provided, intangible property is subject to the custody of this state as unclaimed property if the conditions raising a presumption of abandonment under N.H. Rev. Stat. § 471-C:2 or N.H. Rev. Stat. § 471-C:5-18 are satisfied and:
I. The last known address, as shown on the records of the holder, of the apparent owner is in this state;
II. The records of the holder do not reflect the identity of the person entitled to the property and it is established that the last known address of the person entitled to the property is in this state;
III. The records of the holder do not reflect the last known address of the apparent owner, and it is established that:
(a) The last known address of the person entitled to the property is in this state; or
(b) The holder is a domiciliary or a government or governmental subdivision or agency of this state and has not previously paid or delivered the property to the state of the last known address of the apparent owner or other person entitled to the property;
IV. The last known address, as shown on the records of the holder, of the apparent owner is in a state that does not provide by law for the escheat or custodial taking of the property and the holder is a domiciliary or a government or governmental subdivision or agency of this state;
V. The last known address, as shown on the records of the holder, of the apparent owner is in a foreign nation and the holder is a domiciliary or a government or governmental subdivision or agency of this state; or
VI. The transaction out of which the property arose occurred in this state; and
(a) The last known address of the apparent owner or other person entitled to the property is in a state that does not provide by law for the escheat or custodial taking of the property or its escheat or unclaimed property law is not applicable to the property; and
(b) The holder is a domiciliary of a state that does not provide by law for the escheat or custodial taking of the property or its escheat or unclaimed property law is not applicable to the property.
VII. (a) Unless otherwise provided by law, intangible property is subject to the custody of this state as unclaimed property awaiting claim by another state pursuant to N.H. Rev. Stat. § 471-C:27, I(b), if the conditions raising a presumption of abandonment under N.H. Rev. Stat. § 471-C:2 or N.H. Rev. Stat. § 471-C:5-18 are satisfied and the last known address of the apparent owner, as shown on the records of the holder, is in another state.
(b) Tangible and intangible property awaiting claim by another state pursuant to N.H. Rev. Stat. § 471-C:27, I(b) shall be reported to the administrator, subject to the dormancy periods set forth in this chapter, in accordance with the requirements of N.H. Rev. Stat. § 471-C:19.
I. The last known address, as shown on the records of the holder, of the apparent owner is in this state;
Terms Used In New Hampshire Revised Statutes 471-C:3
- Administrator: means the state treasurer, or designee. See New Hampshire Revised Statutes 471-C:1
- Apparent owner: means the person whose name appears on the records of the holder as the person entitled to property held, issued, or owing by the holder. See New Hampshire Revised Statutes 471-C:1
- 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
- Escheat: except in N. See New Hampshire Revised Statutes 471-C:1
- Holder: means a person, wherever organized or domiciled, who is:
(a) In possession of property belonging to another;
(b) A trustee; or
(c) Indebted to another on an obligation. See New Hampshire Revised Statutes 471-C:1 - Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- Intangible property: includes :
(a) Moneys, checks, drafts, deposits, interest, dividends, and income;
(b) Credit balances, customer overpayments, gift certificates, security deposits, refunds, credit memos, unpaid wages, unused airline tickets, and unidentified remittances;
(c) Stocks and other intangible ownership interests in business associations;
(d) Moneys deposited to redeem stocks, bonds, coupons, and other securities, or to make distributions;
(e) Amounts due and payable under the terms of insurance policies, except amounts due under claims instruments which require acceptance by the claimant or which, by their terms, are void if not presented within a definite time; and
(f) Amounts distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefits. See New Hampshire Revised Statutes 471-C:1 - Last known address: means a description of the location of the apparent owner sufficient for the purpose of the delivery of mail. See New Hampshire Revised Statutes 471-C:1
- Owner: means a depositor in the case of a deposit, a beneficiary in case of a trust other than a deposit in trust, a creditor, claimant, or payee in the case of other intangible property, or a person having a legal or equitable interest in property subject to this chapter or his legal representative. See New Hampshire Revised Statutes 471-C:1
- Person: means an individual, business association, state or other government, governmental subdivision or agency, public authority, estate, trust, 2 or more persons having a joint or common interest, or any other legal or commercial entity. See New Hampshire Revised Statutes 471-C:1
- State: means any state, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States. See New Hampshire Revised Statutes 471-C:1
II. The records of the holder do not reflect the identity of the person entitled to the property and it is established that the last known address of the person entitled to the property is in this state;
III. The records of the holder do not reflect the last known address of the apparent owner, and it is established that:
(a) The last known address of the person entitled to the property is in this state; or
(b) The holder is a domiciliary or a government or governmental subdivision or agency of this state and has not previously paid or delivered the property to the state of the last known address of the apparent owner or other person entitled to the property;
IV. The last known address, as shown on the records of the holder, of the apparent owner is in a state that does not provide by law for the escheat or custodial taking of the property and the holder is a domiciliary or a government or governmental subdivision or agency of this state;
V. The last known address, as shown on the records of the holder, of the apparent owner is in a foreign nation and the holder is a domiciliary or a government or governmental subdivision or agency of this state; or
VI. The transaction out of which the property arose occurred in this state; and
(a) The last known address of the apparent owner or other person entitled to the property is in a state that does not provide by law for the escheat or custodial taking of the property or its escheat or unclaimed property law is not applicable to the property; and
(b) The holder is a domiciliary of a state that does not provide by law for the escheat or custodial taking of the property or its escheat or unclaimed property law is not applicable to the property.
VII. (a) Unless otherwise provided by law, intangible property is subject to the custody of this state as unclaimed property awaiting claim by another state pursuant to N.H. Rev. Stat. § 471-C:27, I(b), if the conditions raising a presumption of abandonment under N.H. Rev. Stat. § 471-C:2 or N.H. Rev. Stat. § 471-C:5-18 are satisfied and the last known address of the apparent owner, as shown on the records of the holder, is in another state.
(b) Tangible and intangible property awaiting claim by another state pursuant to N.H. Rev. Stat. § 471-C:27, I(b) shall be reported to the administrator, subject to the dormancy periods set forth in this chapter, in accordance with the requirements of N.H. Rev. Stat. § 471-C:19.