§ 8.3A-118.1. Statute of limitations on deposit accounts and certificates of deposit.
An action to enforce the obligations of a bank to pay all or part of the balance of a deposit account or certificate of deposit (collectively, a deposit) must be commenced within six years after the earlier of the following:
(1) If the deposit is a certificate of deposit to which subsection (e) of § 8.3A-118 applies, the date the six-year limitations period begins to run under subsection (e) of § 8.3A-118; or
(2) The later of:
(A) The maturity date of the deposit, as set forth in the applicable deposit agreement;
(B) The due date of the deposit indicated in the bank's last written notice of renewal;
(C) The date of the last written communication from the bank recognizing the bank's obligation with respect to the deposit; or
(D) The last day of the taxable year for which the owner of the deposit last reported interest income earned on the deposit on a federal or state income tax return.
(2006, c. 624.)
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