New Hampshire Revised Statutes 471-C:30 – Escheat Proceedings
Current as of: 2023 | Check for updates
|
Other versions
I. Within 36 months after the close of the state‘s fiscal year in which any property presumed abandoned under this chapter is paid or delivered to the administrator, if no claim for the property has been made and established by any person, not including another state, entitled to the property and notice pursuant to N.H. Rev. Stat. § 471-C:20 has occurred, the administrator shall pay or deliver all such property to the appropriate county treasurer as required under N.H. Rev. Stat. § 471-C:31, subject to the state deduction under paragraph II.
II. Before the administrator pays or delivers the property to the general fund or the appropriate county treasurer as required under paragraph I and N.H. Rev. Stat. § 471-C:31, the administrator shall retain 15 percent of the amount to be returned as a deduction for any costs and service charges which the state shall incur in escheat proceedings or with respect to reimbursements made pursuant to paragraph III. The administrator shall deposit this sum in the general fund.
III. Notwithstanding any other provision of this chapter, the provisions of this section shall not be applicable to any holder of a travelers check, bearer bond, or money order who has paid money to the administrator pursuant to this chapter and who subsequently makes payment to any other person appearing to the holder to be entitled to payment. Upon filing proof of payment that the payee was entitled thereto, the administrator shall promptly reimburse such holder for such payment without imposing any fee or other charge.
II. Before the administrator pays or delivers the property to the general fund or the appropriate county treasurer as required under paragraph I and N.H. Rev. Stat. § 471-C:31, the administrator shall retain 15 percent of the amount to be returned as a deduction for any costs and service charges which the state shall incur in escheat proceedings or with respect to reimbursements made pursuant to paragraph III. The administrator shall deposit this sum in the general fund.
Terms Used In New Hampshire Revised Statutes 471-C:30
- Administrator: means the state treasurer, or designee. See New Hampshire Revised Statutes 471-C:1
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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 - 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
III. Notwithstanding any other provision of this chapter, the provisions of this section shall not be applicable to any holder of a travelers check, bearer bond, or money order who has paid money to the administrator pursuant to this chapter and who subsequently makes payment to any other person appearing to the holder to be entitled to payment. Upon filing proof of payment that the payee was entitled thereto, the administrator shall promptly reimburse such holder for such payment without imposing any fee or other charge.