16-10a-641 - Unclaimed distributions.
16-10a-641. Unclaimed distributions.
If a corporation has mailed three successive distributions to a shareholder addressed to theshareholder's address shown on the corporation's current record of shareholders and thedistributions have been returned as undeliverable, no further attempt to deliver distributions to theshareholder need be made until another address for the shareholder is made known to thecorporation, at which time all distributions accumulated by reason of this section shall, except asotherwise provided by law, be mailed to the shareholder at the other address.
Enacted by Chapter 277, 1992 General Session