North Carolina § 116B-70 Destruction or disposition of property having no substantial commercial value; immunity from liability; property of historical significance

North Carolina Statutes

§ 116B-70 — Destruction or disposition of property having no substantial commercial value; immunity from liability; property of historical significance

North Carolina § 116B-70

Ch. 116BEscheats and Abandoned Property

Art. 4North Carolina Unclaimed Property Act

This text of North Carolina § 116B-70 (Destruction or disposition of property having no substantial commercial value; immunity from liability; property of historical significance) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 116B-70 (2026).

Text

(a)If the Treasurer determines after investigation that property delivered under this Chapter has no substantial commercial value, the Treasurer may destroy or otherwise dispose of the property at any time. An action or proceeding may not be maintained against the State or any officer, employee, or agent of the State, both past and present, in the person's individual and official capacity, or against the holder for or on account of an act of the Treasurer under this subsection, except for intentional misconduct.

(b)Notwithstanding the provisions of G.S. 116B-65, the Treasurer may retain any tangible property delivered to the Treasurer, if the property has recognized historic significance. The historic significance shall be certified by the Treasurer, with the advice of the Secretary of N

Free access — add to your briefcase to read the full text and ask questions with AI

(a) If the Treasurer determines after investigation that property delivered under this Chapter has no substantial commercial value, the Treasurer may destroy or otherwise dispose of the property at any time. An action or proceeding may not be maintained against the State or any officer, employee, or agent of the State, both past and present, in the person's individual and official capacity, or against the holder for or on account of an act of the Treasurer under this subsection, except for intentional misconduct.
(b) Notwithstanding the provisions of G.S. 116B-65, the Treasurer may retain any tangible property delivered to the Treasurer, if the property has recognized historic significance. The historic significance shall be certified by the Treasurer, with the advice of the Secretary of Natural and Cultural Resources; and a statement of the appraised value of the property shall be filed with the certification. Historic property retained under this subsection may be stored and displayed at any suitable location. (1979, 2nd Sess., c. 1311, s. 1; 1999-460, s. 6; 2015-68, s. 2; 2015-241, s. 14.30(t); 2017-134, s. 1(a).)