Senate Bill 21-121 Summary

• Defines "financial organization loyalty card" as a record given by a financial organization under an award, reward, benefit, loyalty, incentive, rebate, or promotional program that may be monetized.

• Excludes financial organization loyalty cards from the definition of "property," "stored-value card," and "virtual currency" under Colorado's unclaimed property laws.

• Repeals the five-year abandonment presumption for demand, savings, or time deposits and replaces it with detailed criteria in new section 38-13-207.5 requiring specific owner actions or communications to avoid abandonment designation.

• Requires the unclaimed property administrator to record names and last-known addresses of persons entitled to property and permits publication of additional identifying information on websites or databases, excluding home or physical addresses.

• Declares the act necessary for immediate preservation of public peace, health, or safety.