Rhode Island General Laws 19-10.1-3. Delivery of unclaimed funds and property to general treasurer
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Whenever any financial institution with capital stock coverts to and becomes a general business corporation pursuant to § 19-10.1-1 while holding upon deposit or for safekeeping any funds or other property of any description pursuant to its powers under § 19-3-1, such property shall, prior to the conversion to a general business corporation, be delivered to the general treasurer of this state as unclaimed property.
History of Section.
P.L. 2005, ch. 206, § 1; P.L. 2005, ch. 335, § 1.
Terms Used In Rhode Island General Laws 19-10.1-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.