North Carolina § 116B-1 - 1. Policy and interpretation.
Full text of North Carolina North Carolina General Statutes § 116B-1 — 1. Policy and interpretation., with citation guidance and answers to common questions.
§ 116B-1. 1. Policy and interpretation.
The policy of the State is to recover and transfer property to rightful owners in a manner that is consistent with the interest of the rightful owners. Where the rightful owner cannot be appropriately determined, it is the policy of the State that all benefits realized from any unclaimed or abandoned property shall accrue to the benefit of higher education for the residents of the State. This Chapter shall be liberally interpreted in a manner that fulfills these purposes. History (2020-48, s. 3.2.) Editor's Note. - Session Laws 2020-48, s. 3.1(a), rewrote the Article 1 heading, which formerly read "Escheats." Session Laws 2020-48, s. 7.1 made this section effective June 26, 2020. Session Laws 2020-48, s. 6.1, is a severability clause.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 116B-1
What does North Carolina General Statutes § 116B-1 cover?
Section 116B-1 ("1. Policy and interpretation.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 116B-1?
A common citation format is "North Carolina General Statutes § 116B-1" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 116B-1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.