Cooperatives organized pursuant to chapters 47-15 and 47-21 shall report to the administrator all sums forfeited pursuant to procedures as provided in §§ 47-16-54 to 47-16-59, inclusive. A municipally owned utility which provides for forfeiture of unclaimed property by ordinance shall deposit sums forfeited to its treasury and annually report such deposits to the administrator.

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Source: SL 1992, ch 312, § 40.