§116B-59. Notice by holders to apparent owners

(a)        A holder of property presumed abandoned shall make a good faith effort to locate an apparent owner.

(b)        The holder shall send written notice, by first-class mail, to the apparent owner, not more than 120 days or less than 60 days before filing the report required by G.S. 116B-60, to the last known address of the apparent owner as reflected in the holder's records, if the value of the property is fifty dollars ($50.00) or more.

(c)        The notice must contain:

(1)        A statement that, according to the records of the holder, property is being held to which the addressee appears entitled and the amount or description of the property;

(2)        The name and address of the person holding the property and any necessary information regarding changes of name and address of the holder;

(3)        A statement that, if satisfactory proof of claim is not presented by the owner to the holder by the following October 1 or, if the holder is an insurance company, by the following April 1, the property will be placed in the custody of the Treasurer, to whom all further claims shall be directed.

(1979, 2nd Sess., c. 1311, s. 1; 1981, c. 531, ss. 4-6; 1993, c. 539, s. 898; c. 541, s. 5; 1994, Ex. Sess., c. 24, s. 14(c); 1999-460, s. 6.)