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Legislative Year: 2021 Change
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Bill Detail: SB21-121

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Title Revised Uniform Unclaimed Property Act
Status Governor Signed (04/15/2021)
Bill Subjects
  • State Government
House Sponsors R. Bockenfeld (R)
S. Bird (D)
Senate Sponsors K. Priola (R)
C. Hansen (D)
House Committee Finance
Senate Committee Finance
Date Introduced 02/23/2021
Summary

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. Section 2 repeals the presumption of
abandonment in the act that took effect on July 1, 2020, for demand,
savings, or time deposits with a financial organization, and section 3
replaces it by reenacting the similar version that was in effect prior to July

1, 2020, which 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.
Section 4 repeals the requirement that the administrator's record
of persons appearing on the holders' reports be available for inspection.
Section 5 repeals the prohibition on the administrator including the
home or physical address of an apparent owner when providing additional
identifying information concerning the apparent owner's property in
published notices and on the website.

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Fiscal Notes Fiscal Notes (06/22/2021) (most recent)  
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