NC H155

Reorganizes Chapter 116B of the General Statutes by renaming Article 1 to "General" and creating a new Article 1A titled "Escheats" containing recodified sections on unclaimed property.

Establishes state policy to recover and transfer property to rightful owners, and directs that benefits from unclaimed property accrue to higher education for state residents.

Requires holders of abandoned property with 50 or more records to file reports electronically to the State Treasurer starting January 1, 2020, while allowing smaller filers to file electronically or in other formats.

Clarifies that holders who pay or deliver property to the Treasurer in good faith are relieved of liability and may request reimbursement if payment was made in error or to the rightful owner.

Allows the State Treasurer to defend holders against claims from other persons or states regarding property paid or delivered in good faith to the Treasurer.