§ 116B-66. Claim of another state to recover property.
§ 116B‑66. Claim of another state to recoverproperty.
(a) After property has been paid or delivered to the Treasurerunder this Article, another state may recover the property if:
(1) The property was paid or delivered to the custody of thisState because the records of the holder did not reflect a last known locationof the apparent owner within the borders of the other state, and the otherstate establishes that the apparent owner or other person entitled to theproperty was last known to be located within the borders of that state andunder the laws of that state the property has escheated or become subject to aclaim of abandonment by that state;
(2) The property was paid or delivered to the custody of thisState because the laws of the other state did not provide for the escheat orcustodial taking of the property, and under the laws of that state subsequentlyenacted, the property has escheated or become subject to a claim of abandonmentby that state;
(3) The records of the holder were erroneous in that they didnot accurately identify the owner of the property and the last known locationof the owner within the borders of another state, and under the laws of thatstate the property has escheated or become subject to a claim of abandonment bythat state; or
(4) Repealed by Session Laws 2000, c. 140, s. 27.
(5) The property is a sum payable on a traveler's check, moneyorder, or similar instrument that was purchased in the other state anddelivered into the custody of this State under G.S. 116B‑56(a)(6), andunder the laws of the other state, the property has escheated or become subjectto a claim of abandonment by that state.
(b) A claim of another state to recover escheated or abandonedproperty must be presented in a form prescribed by the Treasurer, who shalldecide the claim within 90 days after it is presented. The Treasurer shallallow the claim upon determining that the other state is entitled to theabandoned property under subsection (a) of this section.
(c) The Treasurer shall require another state, before recoveringproperty under this section, to agree to indemnify this State and its officersand employees against any liability on a claim to the property. (1999‑460, s. 6; 2000‑140, s. 27.)