28.1615 Credit unions.

Cite as [A.S.C.A. § 28.1615]

When no transaction has occurred in a credit union member's share or deposit account for 12 months and his whereabouts are unknown, as verified by the return of a certified letter addressed to him at his last known address, all sums due to the member shall be credited to a special reserve account. If the sums are not reclaimed within a five year period, they shall escheat to the Territory and be forwarded to the Treasurer in accordance with procedures in this chapter.

History: 1988, PL 20-64.