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AR HB1752

Bill

Official Source

Status

Passed

3/24/2017

Primary Sponsor

Charles Collins

Click for details

Origin

House of Representatives

91st General Assembly (2017 Regular)

AI Summary

  • Extends the notice period for abandoned property holders from 120 days to 180 days before filing a report with the state
  • Increases the minimum notice period from 60 days to 90 days before filing the report
  • Requires notice to apparent owners when property is presumed abandoned if the holder has a current address on file, the claim is not barred by statute of limitations, and the property value is $50 or more
  • Specifies that notice for securities, security entitlements, or tangible property in safe deposit boxes must be sent by letter
  • Approved March 24, 2017

Legislative Description

To Amend The Law Concerning Notice Required For Abandoned Property.

Last Action

Notification that HB1752 is now Act 622

3/24/2017

Committee Referrals

Insurance & Commerce3/13/2017
Insurance and Commerce3/1/2017

Full Bill Text

No bill text available