CO SB146

Defines and exempts "financial organization loyalty cards" from unclaimed property laws, effective July 1, 2020, where loyalty cards are records given under reward or promotional programs that may be monetized.

Repeals the presumption of abandonment for demand, savings, or time deposits with financial organizations and replaces it with a new 5-year abandonment period that can be rebutted by specific owner activities like deposit increases/decreases, written communication, or maintaining other relationships with the organization.

Allows financial organizations to delay delivery of abandoned property to the administrator if doing so would trigger penalties or forfeitures related to interest payments.

Requires the administrator to record only the partial last-known address (rather than full address) of claimants and make records available through a website or database maintained under section 38-13-503(3).

Takes effect July 1, 2020, with a safety clause declaring the act necessary for immediate preservation of public peace, health, or safety.