§ 19-10-5 - Advertisement and payment of unclaimed funds. - Rhode Island Statutes

SECTION 19-10-5

   § 19-10-5  Advertisement and payment ofunclaimed funds. – It shall be the duty of the receiver or officer or agent at the time of paymentto deliver to the general treasurer a list of the unclaimed deposits anddividends in the financial institution or credit union, with the names of theparties entitled to the deposits and dividends, as shown by the books of thefinancial institution or credit union. Any person claiming any unclaimeddividend shall be entitled to payment of any money in the general treasury nototherwise appropriated on producing evidence satisfactory to the generaltreasurer of the validity of his or her claim. The state controller isauthorized and directed to draw his or her order or orders on the generaltreasurer in favor of the claimant on the presentation of the proper vouchers.It shall be the duty of the general treasurer to advertise each year, duringthe period of three (3) years from and after receiving the funds of thefinancial institution or credit union, a list of the unclaimed dividends inthese financial institutions or credit unions and of the persons supposed to beentitled to the unclaimed dividends once a week at least, for three (3)successive weeks, in one or more of the public newspapers published in the cityor town in which the financial institution or credit union is located.