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28.1609 Penalty for failure of bank to pay over unclaimed deposits when payable-Suits.

Cite as [A.S.C.A. § 28.1609]

Any bank which fails to pay over to the Treasurer any unclaimed bank deposit as provided in section 26.1608 shall be liable to a penalty of fifty dollars ($50.000) for each day such payment is not made. If such penalty, is not paid, the Treasurer must file a civil action in the name of the Territory against the Bank to recover it.

History: 1988, PL 20-64.