GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2021

 

SESSION LAW 2021-13

HOUSE BILL 156

 

 

AN ACT to amend STATUTES RELATING TO THE state treasurer's unclaimed property division and to extend dmv emergency rule authority.

 

The General Assembly of North Carolina enacts:

 

SECTION 1.  G.S. 116B‑65 reads as rewritten:

§ 116B‑65.  Public sale of abandoned property.

(a)        Except as otherwise provided in this section, the Treasurer, within three five years after the receipt of abandoned property, shall sell it to the highest bidder at public sale at a location in the State which in the judgment of the Treasurer affords the most favorable market for the property. The Treasurer may decline the highest bid and reoffer the property for sale if the Treasurer considers the bid to be insufficient. The Treasurer need not offer the property for sale if the Treasurer considers that the probable cost of sale will exceed the proceeds of the sale. The Treasurer shall give reasonable notice of the sale as he or she deems appropriate and cost‑effective, but, at a minimum, notice must be published at least two times a year in a major newspaper in the State's major media markets. The Treasurer is not required to sell money unless it is a collector's species having value greater than the face value of the money as cash.

….

SECTION 2.  G.S. 116B‑67 reads as rewritten:

§ 116B‑67.  Claim for property paid or delivered to the Treasurer.

(a)        A person, excluding another state, claiming property paid or delivered to the Treasurer may file a claim on a form prescribed by the Treasurer and verified by the claimant if the amount claimed exceeds two hundred fifty dollars ($250.00). five thousand dollars ($5,000). For all other claims, the Unclaimed Property Division may pay the rightful owner upon verification of ownership by the Treasurer.

….

SECTION 3.(a)  Section 3.20 of S.L. 2020‑97, as amended by S.L. 2021‑3, is amended by adding a new subsection to read:

SECTION 3.20.(g)  Notwithstanding the expiration dates in subsections (e) and (f) of this section, the Division of Motor Vehicles' authority to adopt emergency rules under this section shall expire 30 days after Executive Order No. 116 is rescinded or September 30, 2021, whichever is earlier.

SECTION 3.(b)  This section becomes effective March 31, 2021.

SECTION 4.  Except as otherwise provided, this act is effective when it becomes law.

In the General Assembly read three times and ratified this the 20th day of April, 2021.

 

 

                                                                    s/  Carl Ford

                                                                         Presiding Officer of the Senate

 

 

                                                                    s/  Tim Moore

                                                                         Speaker of the House of Representatives

 

 

                                                                    s/  Roy Cooper

                                                                         Governor

 

 

Approved 2:40 p.m. this 27th day of April, 2021