Credit memo unclaimed by owner. (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]