AZ HB2453

Changes the presumption of abandonment period from two years to three years for stock or other equity interests in business associations or financial organizations.

Changes the presumption of abandonment period from two years to three years for principal and interest on debt obligations of business associations or financial organizations.

Changes the presumption of abandonment period from two years to three years for dividends, profits, distributions, interest, and other payments held by business associations for shareholders, certificate holders, members, or security holders.

Applies these extended timeframes to various unclaimed property held by businesses and financial institutions before it is presumed abandoned and transferred to the state.