# Title 85 — University and School Lands, Board of

## Article 85-03 — Unclaimed Property

## Chapter 85-03-02 — Reporting Abandoned Property

### § 85-03-02-01. Reporting of abandoned property.

A holder shall report abandoned property to the administrator in the standard national association
of unclaimed property administrators' format.
History: Effective January 1, 2019; amended effective April 1, 2022.
General Authority: NDCC 47-30.2-03
Law Implemented: NDCC 47-30.2-21, 47-30.2-22, 47-30.2-23, 47-30.2-32, 47-30.2-37
### § 85-03-02-02. Information contained in reports.

In addition to the requirements in North Dakota Century Code section 47-30.2-22, a holder shall
submit the following information in the report, if available:
1. Identifying check, account, or policy number;
2. Owner date of birth; and
3. For mineral proceeds, a legal land description, well number, recording information, and any
other information to adequately describe the lease.
History: Effective January 1, 2019; amended effective April 1, 2022.
General Authority: NDCC 47-30.2-03
Law Implemented: NDCC 47-30.2-21, 47-30.2-22, 47-30.2-23
### § 85-03-02-03. Due diligence.

Repealed effective April 1, 2022.
### § 85-03-02-04. Mineral proceeds.

A holder shall accumulate mineral proceeds and submit an annual lump sum report to the
administrator before November first for the amount due through June thirtieth.
History: Effective January 1, 2019; amended effective April 1, 2022.
General Authority: NDCC 47-30.2-03
Law Implemented: NDCC 47-30.2-04, 47-30.2-21, 47-30.2-22, 47-30.2-23, 47-30.2-32
### § 85-03-02-05. Early reporting.

Repealed effective April 1, 2022.
### § 85-03-02-06. Notice to apparent owner by holder of automatic reinvestment account.

For accounts containing a security as defined in subsection 30 of North Dakota Century Code
section 47-30.2-01 that allow for automatic reinvestment of dividends or interest and where there is no

record of indication of apparent owner interest in the property as defined in North Dakota Century Code
section 47-30.2-12, holders shall provide notice via certified mail to the apparent owner at a minimum
of once every three years in a format substantially similar to that required in North Dakota Century
Code section 47-30.2-27. A return of a certified mail return receipt signed by the apparent owner shall
constitute evidence of indication of apparent owner interest in the subject property as required by North
Dakota Century Code section 47-30.2-12. The holder shall retain all valid return receipts as records of
indication of apparent owner interest. A return to sender as undeliverable or not signed by the apparent
owner shall cause the property to be subject to due diligence procedures pursuant to North Dakota
Century Code sections 47-30.2-26 and 47-30.2-27. A deceased individual cannot demonstrate an
ownership interest in property.
History: Effective April 1, 2022.
General Authority: NDCC 47-30.2-03
Law Implemented: NDCC 47-30.2-12, 47-30.2-26, 47-30.2-27
