SB 408
Modifies legal notice requirements relating to unclaimed property
Sponsor:
LR Number:
1945S.01I
Committee:
Last Action:
3/2/2021 - Hearing Conducted S General Laws Committee
Journal Page:
Title:
Calendar Position:
Effective Date:
August 28, 2021

Current Bill Summary

SB 408 - This act modifies the notice requirements required to be made by the State Treasurer for purposes of disposing of unclaimed property. Specifically, current law requires the Treasurer to give notice of property that is presumed to be abandoned as follows:

· Notice must be published in a newspaper of general circulation once a week for two successive weeks within 240 days of receiving notice of property that is presumed to be abandoned; and

· Notice must be mailed to each person having an address listed who appears to be entitled to presumed abandoned property valued at $50 or more.

This act allows the State Treasurer to use any other method, in addition to the above methods, deemed appropriate and consistent with the intent to notify the owners of the property.

This act is identical to HB 730 (2013).

SCOTT SVAGERA

Amendments

No Amendments Found.