Bill Summary for H 291 (2015-2016)
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Summary date:
Apr 1 2015
Bill Information:
| View NCGA Bill Details(link is external) | 2015-2016 Session |
AN ACT TO PROVIDE THE DEPARTMENT OF STATE TREASURER AUTHORITY IN THE HANDLING OF UNCLAIMED PROPERTY DETERMINED TO BE OF A HAZARDOUS NATURE OR WHICH IS OTHERWISE REGULATED, ILLEGAL, OR WHICH HAS NO SUBSTANTIAL COMMERCIAL VALUE AND TO PROVIDE GUIDANCE FOR THE PROPER HANDLING AND DISPOSITION OF THESE MATERIALS ON THE PART OF FINANCIAL ORGANIZATIONS.Intro. by Hurley.
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Bill summary
House amendment makes the following changes to the 2nd edition. Amends new GS 116B-55 by clarifying that the prohibition on delivering the contents of a safe deposit box to the Treasurer if the Treasurer makes the specified determinations, is notwithstanding other provisions of law in GS Chapter 116B (Escheats and Abandoned Property) or GS Chapter 53C (Regulation of Banks).