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AR SB14
Bill
Status
Passed
2/18/2025
Primary Sponsor
David Wallace
Click for details
AI Summary
- Amends Arkansas Code § 18-28-215 to allow the administrator to pay or deliver unclaimed property directly to an apparent owner without requiring a formal claim filing
- Direct payment is permitted only when the recipient is named as the apparent owner in a filed report and the administrator reasonably believes they are entitled to receive the property
- Applies only to unclaimed property valued at less than $5,000
- Excludes other states from receiving direct payment under this provision
- Approved February 18, 2025 as Act 114 of the Regular Session
Legislative Description
To Allow For The Direct Payment Or Delivery Of Property To An Apparent Owner Under The Unclaimed Property Act In Certain Circumstances.
Last Action
Notification that SB14 is now Act 114
2/18/2025
Committee Referrals
State Agencies and Governmental Affairs1/30/2025
Judiciary1/13/2025
Full Bill Text
No bill text available