1.    Subject to section 47-30.2-12, property held in an account established under a state‘s Uniform Gifts to Minors Act or Uniform Transfers to Minors Act is presumed abandoned if it is unclaimed by or on behalf of the minor on whose behalf the account was opened three years after the later of:

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a.    Except as in subdivision b, the date a second consecutive communication sent by the holder by first-class United States mail to the custodian of the minor on whose behalf the account was opened is returned undelivered to the holder by the United States postal service; b.    If the second communication is sent later than thirty days after the date the first communication is returned undelivered, the date the first communication was returned undelivered; or

c.    The date on which the custodian of the minor, as defined under section 47-24.1-01, is required to transfer the property to the minor or the minor’s estate in accordance with the Uniform Gifts to Minors Act or Uniform Transfers to Minors Act of the state in which the account was opened.

2.    If the holder does not send communications to the custodian of the minor on whose behalf an account described in subsection 1 was opened by first-class United States mail, the holder shall attempt to confirm the custodian of the minor’s interest in the property by sending the custodian of the minor an electronic-mail communication not later than two years after the custodian of the minor’s last indication of interest in the property. However, the holder promptly shall attempt to contact the custodian of the minor by first-class United States mail if:

a.    The holder does not have information needed to send the custodian of the minor an electronic-mail communication or the holder believes that the custodian of the minor’s electronic-mail address in the holder’s records is not valid; b.    The holder receives notification that the electronic-mail communication was not received; or

c.    The custodian of the minor does not respond to the electronic-mail communication not later than thirty days after the communication was sent.

3.    If first-class United States mail sent under subsection 2 is returned undelivered to the holder by the United States postal service, the property is presumed abandoned three years after the later of:

a.    The date a second consecutive communication to contact the custodian of the minor by first-class United States mail is returned to the holder undelivered by the United States postal service; or

b.    The date established by subdivision c of subsection 1.

4.    The property in the account described in subsection 1 ceases to be subject to this section on the date the property is transferred to the minor or to the minor’s estate.