United States savings bonds

SDCL § 43-41B-44 — under UNIFORM UNCLAIMED PROPERTY ACT.

SDCL § 43-41B-44

(a) Notwithstanding the provisions of §§ 43-41B-3 , 43-41B-14 , 43-41B-18 , 43-41B-19 , 43-41B-20 , 43-41B-21 , 43-41B-23 , and 43-41B-36 , United States savings bonds which are unclaimed property and subject to the provisions of chapter 43-41B shall escheat to this state three years after becoming unclaimed property and subject to the provisions of chapter 43-41B and all property rights and legal title to and ownership of such United States savings bonds or proceeds from such bonds, including all rights, powers, and privileges of survivorship of any owner, co-owner, or beneficiary, shall vest solely in this state. (b) Within one hundred eighty days after the three year period in subsection (a), if no claim has been filed in accordance with the provisions of chapter 43-41B for such United States savings bonds, the administrator shall commence a civil action in the Sixth Judicial Circuit for a determination that such United States savings bonds shall escheat to this state. The administrator may postpone the bringing of such action until sufficient United States savings bonds have accumulated in the administrator's custody to justify the expense of the proceedings. (c) The administrator shall make service by publication of the proceeding in Hughes County in accordance with §