69-1305.01. Stock or other intangible ownership interest; applicability of act; conditions.
164 words·~1 min read·
/ne/chapter-69/69-1305-01A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Uniform Disposition of Unclaimed Property Act does not apply to any stock or other intangible ownership interest enrolled in a plan that provides for the automatic reinvestment of dividends, distributions, or other sums payable as a result of the interest unless:
(a)The records available to the administrator of the plan show, with respect to any intangible ownership interest not enrolled in the reinvestment plan, that the owner has not within five years communicated in any manner described in subdivision (a)(1) of section 69-1305 ; or
(b)Five years have elapsed since the location of the owner became unknown to the business association as evidenced by the return of official shareholder notifications or communications by the postal service as undeliverable and the owner has not within those five years communicated in any manner described in subdivision (a)(1) of section 69-1305 . The five-year period from the return of official shareholder notifications or communications shall commence from the return of the notification or communication.