§ 20‑279.10. Custody,disposition and return of security; escheat.
(a) Security depositedin compliance with the requirements of this Article shall be placed by theCommissioner in the custody of the State Treasurer and shall be applicable onlyto the payment of a judgment or judgments rendered against the person orpersons on whose behalf the deposit was made, for damages arising out of theaccident in question in an action at law, begun not later than one year afterthe date of such accident, or within one year after the date of deposit of anysecurity under subdivision (3) of G.S. 20‑279.7, or to the payment insettlement, agreed to by the depositor, of a claim or claims arising out ofsuch accident. Such deposit or any balance thereof shall be returned to thedepositor or his personal representative when evidence satisfactory to theCommissioner has been filed with him that there has been a release fromliability, or a final adjudication of nonliability, or a duly acknowledgedagreement, in accordance with subdivision (4) of G.S. 20‑279.6, or asettlement accepted by the Commissioner as provided in subdivision (5) of G.S.20‑279.6, or a conviction accepted by the Commissioner as provided insubdivision (6) of G.S. 20‑279.6, or whenever, after the expiration ofone year from the date of the accident, or from the date of deposit of anysecurity under subdivision (3) of G.S. 20‑279.7, whichever is later, theCommissioner shall be given reasonable evidence that there is no such actionpending and no judgment rendered in such action left unpaid.
(b) One year from thedeposit of any security under the terms of this Article, the Commissioner shallnotify the depositor thereof by registered mail addressed to his last knownaddress that the depositor is entitled to a refund of the security upon givingreasonable evidence that no action at law for damages arising out of theaccident in question is pending or that no judgment rendered in any such actionremains unpaid. If, at the end of three years from the date of deposit, noclaim therefor has been received, the Division shall notify the depositorthereof by registered mail and shall cause a notice to be posted at thecourthouse door of the county in which is located the last known address of thedepositor for a period of 60 days. Such notice shall contain the name of thedepositor, his last known address, the date, amount and nature of the deposit,and shall state the conditions under which the deposit will be refunded. If,at the end of two years from the date of posting of such notice, no claim forthe deposit has been received, the Commissioner shall certify such facttogether with the facts of notice to the State Treasurer. These deposits shallbe turned over to the Escheat Fund of the Department of State Treasurer. (1953,c. 1300, s. 10; 1955, c. 1152, s. 13; 1967, c. 1227; 1975, c. 716, s. 5; 1981,c. 531, s. 16.)
§ 20‑279.10. Custody,disposition and return of security; escheat.
(a) Security depositedin compliance with the requirements of this Article shall be placed by theCommissioner in the custody of the State Treasurer and shall be applicable onlyto the payment of a judgment or judgments rendered against the person orpersons on whose behalf the deposit was made, for damages arising out of theaccident in question in an action at law, begun not later than one year afterthe date of such accident, or within one year after the date of deposit of anysecurity under subdivision (3) of G.S. 20‑279.7, or to the payment insettlement, agreed to by the depositor, of a claim or claims arising out ofsuch accident. Such deposit or any balance thereof shall be returned to thedepositor or his personal representative when evidence satisfactory to theCommissioner has been filed with him that there has been a release fromliability, or a final adjudication of nonliability, or a duly acknowledgedagreement, in accordance with subdivision (4) of G.S. 20‑279.6, or asettlement accepted by the Commissioner as provided in subdivision (5) of G.S.20‑279.6, or a conviction accepted by the Commissioner as provided insubdivision (6) of G.S. 20‑279.6, or whenever, after the expiration ofone year from the date of the accident, or from the date of deposit of anysecurity under subdivision (3) of G.S. 20‑279.7, whichever is later, theCommissioner shall be given reasonable evidence that there is no such actionpending and no judgment rendered in such action left unpaid.
(b) One year from thedeposit of any security under the terms of this Article, the Commissioner shallnotify the depositor thereof by registered mail addressed to his last knownaddress that the depositor is entitled to a refund of the security upon givingreasonable evidence that no action at law for damages arising out of theaccident in question is pending or that no judgment rendered in any such actionremains unpaid. If, at the end of three years from the date of deposit, noclaim therefor has been received, the Division shall notify the depositorthereof by registered mail and shall cause a notice to be posted at thecourthouse door of the county in which is located the last known address of thedepositor for a period of 60 days. Such notice shall contain the name of thedepositor, his last known address, the date, amount and nature of the deposit,and shall state the conditions under which the deposit will be refunded. If,at the end of two years from the date of posting of such notice, no claim forthe deposit has been received, the Commissioner shall certify such facttogether with the facts of notice to the State Treasurer. These deposits shallbe turned over to the Escheat Fund of the Department of State Treasurer. (1953,c. 1300, s. 10; 1955, c. 1152, s. 13; 1967, c. 1227; 1975, c. 716, s. 5; 1981,c. 531, s. 16.)
§ 20‑279.10. Custody,disposition and return of security; escheat.
(a) Security depositedin compliance with the requirements of this Article shall be placed by theCommissioner in the custody of the State Treasurer and shall be applicable onlyto the payment of a judgment or judgments rendered against the person orpersons on whose behalf the deposit was made, for damages arising out of theaccident in question in an action at law, begun not later than one year afterthe date of such accident, or within one year after the date of deposit of anysecurity under subdivision (3) of G.S. 20‑279.7, or to the payment insettlement, agreed to by the depositor, of a claim or claims arising out ofsuch accident. Such deposit or any balance thereof shall be returned to thedepositor or his personal representative when evidence satisfactory to theCommissioner has been filed with him that there has been a release fromliability, or a final adjudication of nonliability, or a duly acknowledgedagreement, in accordance with subdivision (4) of G.S. 20‑279.6, or asettlement accepted by the Commissioner as provided in subdivision (5) of G.S.20‑279.6, or a conviction accepted by the Commissioner as provided insubdivision (6) of G.S. 20‑279.6, or whenever, after the expiration ofone year from the date of the accident, or from the date of deposit of anysecurity under subdivision (3) of G.S. 20‑279.7, whichever is later, theCommissioner shall be given reasonable evidence that there is no such actionpending and no judgment rendered in such action left unpaid.
(b) One year from thedeposit of any security under the terms of this Article, the Commissioner shallnotify the depositor thereof by registered mail addressed to his last knownaddress that the depositor is entitled to a refund of the security upon givingreasonable evidence that no action at law for damages arising out of theaccident in question is pending or that no judgment rendered in any such actionremains unpaid. If, at the end of three years from the date of deposit, noclaim therefor has been received, the Division shall notify the depositorthereof by registered mail and shall cause a notice to be posted at thecourthouse door of the county in which is located the last known address of thedepositor for a period of 60 days. Such notice shall contain the name of thedepositor, his last known address, the date, amount and nature of the deposit,and shall state the conditions under which the deposit will be refunded. If,at the end of two years from the date of posting of such notice, no claim forthe deposit has been received, the Commissioner shall certify such facttogether with the facts of notice to the State Treasurer. These deposits shallbe turned over to the Escheat Fund of the Department of State Treasurer. (1953,c. 1300, s. 10; 1955, c. 1152, s. 13; 1967, c. 1227; 1975, c. 716, s. 5; 1981,c. 531, s. 16.)
