78B-6-1237 - Investment of sale proceeds for nonresidents or unknown parties.
78B-6-1237. Investment of sale proceeds for nonresidents or unknown parties.
When there are proceeds of a sale belonging to an unknown owner or to a person outsidethe state who has no legal representative inside the state, the proceeds shall be invested in bondsof the United States, this state, or a political subdivision of the state for the benefit of the personsentitled the proceeds.
Renumbered and Amended by Chapter 3, 2008 General Session