Financial Institutions

CHAPTER 19-10.1
Conversion of Financial Institution to General Business Corporation

SECTION 19-10.1-3

§ 19-10.1-3. Delivery of unclaimed funds and property to general treasurer.

Whenever any financial institution with capital stock coverts to and becomes a general business corporation pursuant to § 19-10.1-1 while holding upon deposit or for safekeeping any funds or other property of any description pursuant to its powers under § 19-3-1, such property shall, prior to the conversion to a general business corporation, be delivered to the general treasurer of this state as unclaimed property.

History of Section.
(P.L. 2005, ch. 206, § 1; P.L. 2005, ch. 335, § 1.)