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Bill Detail: SB20-146

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Title Financial Organizations Unclaimed Property Act
Status Introduced In House - Assigned to Finance (02/25/2020)
Bill Subjects
  • Financial Services & Commerce
  • State Government
House Sponsors R. Bockenfeld (R)
Senate Sponsors K. Priola (R)
House Committee Finance
Senate Committee Finance
Date Introduced 01/27/2020

Section 1 of the bill defines and exempts a financial organization
loyalty card from the property that is subject to the Revised Uniform
Unclaimed Property Act, which is effective on July 1, 2020. Section 2
repeals the presumption of abandonment in the act for demand, savings,
or time deposits with a financial organization, and section 3 replaces it by

reenacting the current law, which otherwise is effective until July 1, 2020.
The continued, current law has the same 5-year period for property to be
presumed abandoned but has different owner activities that rebut the
presumption of abandonment. It also delays the time that a financial
organization is required to deliver this property to the administrator, if a
penalty or forfeiture in the payment of interest would result from the
delivery of the property.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (03/05/2020) (most recent)  
Additional Bill Documents Bill Documents
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