If, at the time of the hearing in G.S. 28C‑6 wherein a permanent receiver is appointed by the judge after a finding of disappearance as of a stated date, the date of disappearance so found is more than four years prior to the date of such hearing, the time limited for accounting for or fixed for transferring or distributing the property or its proceeds, or for barring actions by or on behalf of the absentee relative thereto, shall be not less than two years after the date of the appointment of the permanent receiver instead of the five years provided in G.S. 28C‑11(c).
Provided, however, that the time limited for accounting for or fixed for transferring and distributing any additional property or its proceeds within the State coming into the custody and control of the permanent receiver during such two‑year period, or for barring actions by or on behalf of the absentee relative thereto, shall be not more than one year after the expiration of said two‑year period. (1965, c. 815, s. 1; 1973, c. 1329, s. 2.)