North Carolina General Statutes
Article 4 - North Carolina Unclaimed Property Act.
§ 116B-71 - Periods of limitation.

116B-71. Periods of limitation.
(a) The expiration, before or after the effective date of this Article, of a period of limitation on the owner's right to receive or recover property, whether specified by contract, statute, or court order, does not preclude the property from being presumed abandoned or affect a duty of a holder to file a report or to pay or deliver or transfer property to the Treasurer as required by this Article.
(b) An action or proceeding may not be maintained by the Treasurer to enforce this Article in regard to the reporting, delivery, or payment of property more than five years after the holder filed a report with the Treasurer in which the holder specifically identified property, should have but failed to identify property, or gave express notice to the Treasurer of a dispute regarding property. In the absence of such a report or other express notice, the period of limitation is tolled. The period of limitation is also tolled by the filing of a report that is fraudulent. (1979, 2nd Sess., c. 1311, s. 1; 1993, c. 541, s. 8; 1999-460, s. 6.)

Structure North Carolina General Statutes

North Carolina General Statutes

Chapter 116B - Escheats and Abandoned Property

Article 4 - North Carolina Unclaimed Property Act.

§ 116B-51 - Short title.

§ 116B-52 - Definitions.

§ 116B-53 - Presumptions of abandonment.

§ 116B-54 - Exclusion for forfeited reservation deposits, certain gift certificates or electronic gift cards, prepaid calling cards, certain manufactured home buyer deposits, certain credit balances, unclaimed lottery prizes, and certain merchandise...

§ 116B-54.1 - Unclaimed United States savings bonds.

§ 116B-55 - Contents of safe deposit box or other safekeeping depository.

§ 116B-56 - Rules for taking custody.

§ 116B-57 - Dormancy charge; other lawful charges.

§ 116B-58 - Burden of proof as to property evidenced by record of check or draft.

§ 116B-59 - Notice by holders to apparent owners.

§ 116B-60 - Report of abandoned property; certification by holders with tax return.

§ 116B-61 - Payment or delivery of abandoned property.

§ 116B-62 - Preparation of list of owners by Treasurer.

§ 116B-63 - Custody by State; recovery by holder; defense of holder.

§ 116B-64 - Loss, income, or gain accruing after payment or delivery.

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

§ 116B-66 - Claim of another state to recover property.

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

§ 116B-68 - Action to establish claim.

§ 116B-69 - Election to take payment or delivery.

§ 116B-70 - Destruction or disposition of property having no substantial commercial value; immunity from liability; property of historical significance.

§ 116B-71 - Periods of limitation.

§ 116B-72 - Requests for reports and examination of records.

§ 116B-73 - Retention of records.

§ 116B-74 - Discretionary precompliance review.

§ 116B-75 - Enforcement.

§ 116B-76 - Interstate agreements and cooperation; joint and reciprocal actions with other states.

§ 116B-77 - Interest and penalties; waiver.

§ 116B-78 - Agreement to locate property between property finders and owners or apparent owners.

§ 116B-78.1 - Property finder regulation and enforcement.

§ 116B-79 - Transitional provisions.

§ 116B-80 - Rules.