|HB 0597||Unclaimed/Abandoned Property Proceeds|
|Sponsor:||MCCLELLAND||Handling House Bill:|
|Last Action:||05/03/95 - Voted Do Pass S Appropriations Committee|
|Effective Date:||August 28, 1995|
HCS/HB 597 - This act pertains to unclaimed funds.
Whenever funds are placed in the "Abandoned Fund Account"
due to abandonment under Section 447.520, RSMo (stocks,
certificates) fifty percent of these abandoned funds shall, upon
liquidation, be transferred from the account to the Budget
Stabilization Fund created in Section 33.285, RSMo.