HB281 Summary

• Requires holders of abandoned property to file reports electronically with the State Treasurer, with limited exceptions granted upon written request.

• Allows all state-issued payment instruments (checks, warrants, debit cards) to be remitted to unclaimed property one year after issuance, voiding instruments not claimed within that timeframe.

• Permits surviving parents to claim abandoned property from a child who died intestate, provided the property value does not exceed limits set in Section 43-2-692.

• Protects holders from liability when property is paid or delivered to the Treasurer in good faith and relieves the Treasurer of liability when transferring property between states.

• Restricts third-party agreements to locate or recover abandoned property as void for 24 months after property is delivered to the Treasurer, and requires such agreements to be in writing with clear fee disclosures; limits attorney fees to 10 percent of claimed property value.