Section 7-58-1010 - Alternative distribution of unclaimed property, distributions, redemptions, or payments

A limited cooperative association may provide in its articles or bylaws for the disposition of funds when declared payable by the association and remaining unclaimed by the holder for three years after notification has been mailed to the holder's last-known address of record on the books of the association, which disposition may consist of transferring the funds to the general operating account of the association.L. 2011: Entire article added, (SB 11 -191), ch. 197, p. 801, § 1, effective 4/2/2012.