§ 30.44.220. Disposition of proceeds -- Escheat
The proceeds of such sale shall be deposited by the director in a bank or trust company to his or her credit, in trust for the benefit of the person entitled thereto, and shall be paid by him or her to such person upon receipt of satisfactory evidence of his or her right thereto.
All moneys so deposited remaining unclaimed for five years after deposit shall escheat to the state for the benefit of the permanent school fund and shall be paid by the director into the state treasury. It shall not be necessary to have the escheat adjudged in a suit or action.
[1994 c 92 § 126; 1955 c 33 § 30.44.220. Prior: 1947 c 148 § 5; Rem. Supp. 1947 § 3281-5.]
Sections: Previous 30.44.140 30.44.150 30.44.160 30.44.170 30.44.180 30.44.190 30.44.200 30.44.210 30.44.220 30.44.230 30.44.240 30.44.250 30.44.260 30.44.270 30.44.280 NextLast modified: April 7, 2009