§ 47-30.2-12 — (210) Indication of apparent owner interest in property

North Dakota § 47-30.2-12

• Jurisdiction: North Dakota
• Title 47: Property
• Ch. 47-30.2: Revised Uniform Unclaimed Property Act

Text

1. The period after which property is presumed abandoned is measured from the later of:
a. The date the property is presumed abandoned under sections 47-30.2-04,
47-30.2-05, 47-30.2-06, 47-30.2-07, 47-30.2-08, 47-30.2-09, 47-30.2-10,
47-30.2-11, 47-30.2-12, 47-30.2-13, and 47-30.2-14; or
b. The latest indication of interest by the apparent owner in the property.
2. Under this chapter, an indication of an apparent owner's interest in property includes:
a. A record communicated by the apparent owner to the holder or agent of the
holder concerning the property or the account in which the property is held;
b. An oral communication by the apparent owner to the holder or agent of the holder
concerning the property or the account in which the property is held, if the holder
or its agent contemporaneously makes and preserves a record of the fact of the
apparent owner's communication;
c. Presentment of a check or other instrument of payment of a dividend, interest
payment, or other distribution, or evidence of receipt of a distribution made by

electronic or similar means, with respect to an account, underlying security, or
interest in a business association;
d. Activity directed by an apparent owner in the account in which the property is
held, including accessing the account or information concerning the account, or a
direction by the apparent owner to increase, decrease, or otherwise change the
amount or type of property held in the account;
e. A deposit into or withdrawal from an account at a financial organization, including
an automatic deposit or withdrawal previously authorized by the apparent owner
other than an automatic reinvestment of dividends or interest;
f. Subject to subsection 5, payment of a premium on an insurance policy; and
g. Any other action by the apparent owner which reasonably demonstrates to the
holder that the apparent owner knows that the property exists.
3. An action by an agent or other legal representative of an apparent owner, other than
the holder acting as the apparent owner's agent, is presumed to be an action on behalf
of the apparent owner.
4. A communication with an apparent owner by a person other than the holder or the
holder's representative is not an indication of interest in the property by the apparent
owner unless a record of the communication evidences the apparent owner's
knowledge of a right to the property.
5. If the insured dies or the insured or beneficiary of an insurance policy otherwise
becomes entitled to the proceeds before depletion of the cash surrender value of the
policy by operation of an automatic-premium-loan provision or other nonforfeiture
provision contained in the policy, the operation does not prevent the policy from
maturing or terminating.