§ 47-16-54 — Unclaimed credits--Forfeiture to cooperative.

Any share of corporate stock membership, credit, dividend, profit, patronage refund, distribution, interest, payment, or other money or property right held by a cooperative for, or owing by it to, a member, stockholder, or participating patron, or other person or persons entitled thereto, who has not within six years claimed the same or corresponded in writing with the cooperative concerning the same may be forfeited to the cooperative in the manner provided by §§ 47-16-55 to 47-16-59 , inclusive.

Legislative History

SDC 1939, § 11.1132 as enacted by SL 1965, ch 23, § 1.