- (1) A credit memo issued in the ordinary course of an issuer’s business which remains unclaimed by the owner for more than three years after becoming payable or distributable is presumed abandoned.
- (2) For a credit memo presumed abandoned under subsection (1) of this section, the amount presumed abandoned is the amount credited to the recipient of the memo.
[1983 c.716 §33; 1997 c.416 §2; 2001 c.302 §6]