Property removed from a safe deposit box and delivered under this chapter to the administrator under this chapter is subject to the holder’s right to reimbursement for the cost of opening the box and a lien or contract providing reimbursement to the holder for unpaid rent charges for the box. The administrator shall reimburse the holder from the proceeds remaining after deducting the expense incurred by the administrator in selling the property.

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Terms Used In North Dakota Code 47-30.2-35

  • Contract: A legal written agreement that becomes binding when signed.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Property: includes property, real and personal. See North Dakota Code 1-01-49