44-314. Federal deposit insurance corporation
trust fund; temporary custody; interest
A. The federal deposit insurance corporation trust fund is established consisting
of monies the department receives from the federal deposit insurance corporation under
the unclaimed deposits amendments act of 1993 (P.L. 103-44; 107 Stat. 220; 12 United
States Code section 1822(e)). The department shall administer the fund. Monies in the
fund are continuously appropriated.
B. If the monies deposited in the federal deposit insurance corporation trust fund
are not claimed by the owner within ten years after being surrendered to the department,
the department shall return the monies to the federal deposit insurance corporation.
C. This state retains all interest earned on the monies in the federal deposit
insurance corporation trust fund. The interest earned on the monies in the federal
deposit insurance corporation trust fund shall be credited as follows:
1. Sixty-five per cent in the state general fund.
2. Thirty-five per cent in the housing trust fund established by section 41-3955.
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