GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION LAW 2021-13
HOUSE BILL 156
AN ACT to amend STATUTES RELATING TO THE state treasurer's unclaimed property division and to extend dmv emergency rule authority.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 116B‑65 reads as rewritten:
"§ 116B‑65. Public sale of abandoned property.
(a) Except as otherwise
provided in this section, the Treasurer, within
three five years
after the receipt of abandoned property, shall sell it to the highest bidder at
public sale at a location in the State which in the judgment of the Treasurer
affords the most favorable market for the property. The Treasurer may decline
the highest bid and reoffer the property for sale if the Treasurer considers
the bid to be insufficient. The Treasurer need not offer the property for sale
if the Treasurer considers that the probable cost of sale will exceed the
proceeds of the sale. The Treasurer shall give reasonable notice of the sale as
he or she deems appropriate and cost‑effective, but, at a minimum, notice
must be published at least two times a year in a major newspaper in the State's
major media markets. The Treasurer is not required to sell money unless it is a
collector's species having value greater than the face value of the money as
SECTION 2. G.S. 116B‑67 reads as rewritten:
"§ 116B‑67. Claim for property paid or delivered to the Treasurer.
(a) A person, excluding
another state, claiming property paid or delivered to the Treasurer may file a
claim on a form prescribed by the Treasurer and verified by the claimant if the
amount claimed exceeds
two hundred fifty dollars ($250.00). five
thousand dollars ($5,000). For all other claims, the Unclaimed Property
Division may pay the rightful owner upon verification of ownership by the
SECTION 3.(a) Section 3.20 of S.L. 2020‑97, as amended by S.L. 2021‑3, is amended by adding a new subsection to read:
"SECTION 3.20.(g) Notwithstanding the expiration dates in subsections (e) and (f) of this section, the Division of Motor Vehicles' authority to adopt emergency rules under this section shall expire 30 days after Executive Order No. 116 is rescinded or September 30, 2021, whichever is earlier."
SECTION 3.(b) This section becomes effective March 31, 2021.
SECTION 4. Except as otherwise provided, this act is effective when it becomes law.
In the General Assembly read three times and ratified this the 20th day of April, 2021.
s/ Carl Ford
Presiding Officer of the Senate
s/ Tim Moore
Speaker of the House of Representatives
s/ Roy Cooper
Approved 2:40 p.m. this 27th day of April, 2021