SECTION .0400 – REFUNDS

20 ncac 08 .0401             APPLICATION FOR REFUNDS

(a)  The following persons may apply for refunds on behalf of an owner of property transferred to the Escheat Fund:

(1)           the owner or a personal representative of an owner;

(2)           the holder or a successor to the holder; and

(3)           an attorney in fact under a written power of attorney from the owner.

(b)  Claims will be approved only for specified property delivered to the Escheat Fund by named holders in named years.

(c)  Every claimant shall agree to the indemnification provisions of G.S. 116B-67(e) before a claim will be approved.

(d)  Whenever the holder of property rejects, or otherwise refuses to process within 60 days, a claim made by a person claiming ownership, the claimant may appeal, in writing, to the Escheat Administrator.

(e)  Whenever the Escheat Administrator rejects, or otherwise refuses to process a claim within 60 days, a claim by a person claiming ownership, the claimant may appeal, in writing, to the State Treasurer.

History Note:        Authority G.S. 116B‑67; 116B‑80;

Eff. February 1, 1982;

Amended Eff. April 1, 2001; November 1, 1988;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 6, 2016.