New Hampshire Revised Statutes 471-C:25 – Deposit of Funds
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I. Except as otherwise provided by this section, the administrator shall promptly deposit in the general fund of this state all funds received under this chapter, including the proceeds from the sale of abandoned property under N.H. Rev. Stat. § 471-C:24; provided, however, that in the case of funds which originated from the highway fund or fish and game fund, any such funds received under this chapter shall be deposited in the fund from which they originated. The administrator shall retain in a separate fund an amount sufficient to make prompt payment of claims duly allowed. Before making the deposit, the administrator shall record the name and last known address of each person appearing from the holders’ reports to be entitled to the property and the name and last known address of each insured person or annuitant and beneficiary and, with respect to each policy or contract listed in the report of an insurance company, its number and the name of the company. The record must be available for public inspection at all reasonable business hours.
II. Before making any deposit to the credit of the general fund or county treasurer as provided in paragraph I, the administrator may deduct any costs incurred in connection with the administration of this chapter; provided, however, that costs incurred in the effectuation of N.H. Rev. Stat. § 471-C:30 shall be allowed as set forth in N.H. Rev. Stat. § 471-C:30, II.
II. Before making any deposit to the credit of the general fund or county treasurer as provided in paragraph I, the administrator may deduct any costs incurred in connection with the administration of this chapter; provided, however, that costs incurred in the effectuation of N.H. Rev. Stat. § 471-C:30 shall be allowed as set forth in N.H. Rev. Stat. § 471-C:30, II.
Terms Used In New Hampshire Revised Statutes 471-C:25
- Administrator: means the state treasurer, or designee. See New Hampshire Revised Statutes 471-C:1
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Insurance company: means an association, corporation, fraternal or mutual benefit organization, whether or not for profit, which is engaged in providing insurance coverage, including accident, burial, casualty, credit life, contract performance, dental, fidelity, fire, health, hospitalization, illness, life, including endowments and annuities, malpractice, marine, mortgage, surety, and protection insurance. See New Hampshire Revised Statutes 471-C:1
- Last known address: means a description of the location of the apparent owner sufficient for the purpose of the delivery of mail. See New Hampshire Revised Statutes 471-C:1
- Person: means an individual, business association, state or other government, governmental subdivision or agency, public authority, estate, trust, 2 or more persons having a joint or common interest, or any other legal or commercial entity. See New Hampshire Revised Statutes 471-C:1
- State: means any state, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States. See New Hampshire Revised Statutes 471-C:1