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Code · South Dakota · Title 58 · Chapter 58-29

58-29B-128. Disposition of unclaimed funds subject to distribution.

117 words·~1 min read·/sd/title-58/chapter-58-29/58-29b-128·

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All unclaimed funds subject to distribution remaining in the liquidator's hands when he is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member, or other person who is unknown or cannot be found, shall be deposited with the state treasurer, and shall be paid without interest except in accordance with § 58-29B-123 to the person entitled thereto or his legal representative upon proof satisfactory to the state treasurer of his right thereto.
Any amount on deposit not claimed within six years from the discharge of the liquidator shall be deemed to have been abandoned and shall be escheated without formal escheat proceedings and be deposited into the general fund.
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