{"data":{"id":"us-nc/n.c.-gen.-stat.-28c-12","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 28C-12","heading":"Termination of receivership.","body":"Upon the entry of any final finding and decree as provided in G.S. 28C-11, the judge shall proceed to wind up the receivership and terminate the proceedings:\n(1)\tIn the case of a decree under G.S. 28C-11, subsection (a), that the absentee is dead:\na.\tBy satisfying all outstanding expenses and costs of the receivership, and\nb.\tBy then deducting for the insurance fund provided in G.S. 28C-19 a sum equal to five percent (5%) of the total value of the property remaining for distribution upon settlement of the absentee's estate, including amounts paid to the estate from policies of insurance on the absentee's life, and\nc.\tBy then certifying the proceedings to the clerk of the superior court subject to an order by the judge administering the receivership, or\n(2)\tIn the case of a decree under G.S. 28C-11, subsection (b), revoking the finding that the missing person is an absentee:\na.\tBy satisfying all outstanding expenses and costs of the receivership, and\nb.\tBy then returning his remaining property to him and rendering an accounting for that property not returned; or\n(3)\tIn the case of a decree under G.S. 28C-11, subsection (c), declaring that all interest of the absentee in his property has ceased:\na.\tBy satisfying all outstanding expenses and costs of the receivership, and\nb.\tBy then satisfying all outstanding taxes, other debts and charges, and\nc.\tBy then deducting for the insurance fund provided in G.S. 28C-19 a sum equal to five percent (5%) of the total value of the property remaining, including amounts paid to the receivership estate from policies of insurance on the absentee's life, and\nd.\tBy transferring or distributing the remaining property as provided in G.S. 28C-13; and\n(4)\tIn all three cases by requiring the receiver's account, and upon its approval, discharging him and his bondsmen and entering a final decree terminating the receivership. (1965, c. 815, s. 1; 1973, c. 1329, s. 2.)","path":["Chapter 28C. Estates of Missing Persons."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_28C/GS_28C-12.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:59:32Z","sha256":"b9aff52816eaec28c79739a4842ed983cc2de65487d194153a3281b3337174c1","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-28c-11","next":"us-nc/n.c.-gen.-stat.-28c-13"},"notice":"GroundRules: Original legal text. Not legal advice."}