2023 New Hampshire Revised Statutes › Title XLVI - Lost Property; Strays › Chapter 471-C - Custody and Escheat of Unclaimed and Abandoned Property › Section 471-C:1 - Definitions.

471-C:1 Definitions. –
As used in this chapter, unless the context otherwise requires:
I. "Administrator" means the state treasurer, or designee.
II. "Apparent owner" means the person whose name appears on the records of the holder as the person entitled to property held, issued, or owing by the holder.
III. "Attorney general" means the chief legal officer of this state.
IV. "Banking organization" means a bank, trust company, savings bank, industrial bank, land bank, safe deposit company, private banker, or any organization defined by other law as a bank or banking organization.
V. "Business association" means a non-public corporation, joint stock company, investment company, business trust, partnership, or association for business purposes of 2 or more individuals, whether or not for profit, including a banking organization, financial organization, insurance company, or utility.
VI. "Domicile" means the state of incorporation of a corporation and the state of the principal place of business of an incorporated person.
VII. "Escheat", except in RSA 471-C:30, means the presumption of abandonment of property followed by:
(a) Immediate proceedings for the taking of title; or
(b) The required delivery to the state followed by immediate proceedings for the taking of title; or
(c) Completion of proceedings in RSA 471-C:30 followed by payment or delivery of property to the appropriate county treasurer.
VIII. "Financial organization" means a savings and loan association, cooperative bank, building and loan association, or credit union.
IX. "Holder" means a person, wherever organized or domiciled, who is:
(a) In possession of property belonging to another;
(b) A trustee; or
(c) Indebted to another on an obligation.
X. "Insurance company" means an association, corporation, fraternal or mutual benefit organization, whether or not for profit, which is engaged in providing insurance coverage, including accident, burial, casualty, credit life, contract performance, dental, fidelity, fire, health, hospitalization, illness, life, including endowments and annuities, malpractice, marine, mortgage, surety, and protection insurance.
XI. "Intangible property" includes:
(a) Moneys, checks, drafts, deposits, interest, dividends, and income;
(b) Credit balances, customer overpayments, gift certificates, security deposits, refunds, credit memos, unpaid wages, unused airline tickets, and unidentified remittances;
(c) Stocks and other intangible ownership interests in business associations;
(d) Moneys deposited to redeem stocks, bonds, coupons, and other securities, or to make distributions;
(e) Amounts due and payable under the terms of insurance policies, except amounts due under claims instruments which require acceptance by the claimant or which, by their terms, are void if not presented within a definite time; and
(f) Amounts distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefits.
XII. "Last known address" means a description of the location of the apparent owner sufficient for the purpose of the delivery of mail.
XIII. "Owner" means a depositor in the case of a deposit, a beneficiary in case of a trust other than a deposit in trust, a creditor, claimant, or payee in the case of other intangible property, or a person having a legal or equitable interest in property subject to this chapter or his legal representative.
XIV. "Person" means an individual, business association, state or other government, governmental subdivision or agency, public authority, estate, trust, 2 or more persons having a joint or common interest, or any other legal or commercial entity.
XV. "State" means any state, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States.
XVI. "Utility" means a person who owns or operates for public use any plant, equipment, property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas.
Source.
1986, 204:1. 1990, 105:1. 1995, 84:2, eff. July 15, 1995.