CT SB01434

Establishes new abandonment rules for funeral service contracts, making property payable when the holder is notified of the beneficiary's death, when the beneficiary would have turned 110 years old, or 75 years after contract execution

Changes holder notification requirements to owners between July 1 and September 30 of the year abandonment takes effect, with first-class mail required for properties valued at $50 or more and email notification if the owner consented to electronic delivery

Sets March 31 deadline for holders to deliver abandoned property and file reports with the Treasurer, and requires holders to retain records for at least 10 years after filing

Allows unclaimed property with state agencies listed as sole owner to escheat to the state three months after the Treasurer reports to the Office of Policy and Management

Authorizes the Treasurer to establish a donation program allowing owners of unclaimed property claims to donate to designated charitable causes including the Connecticut Baby Bond Trust, organ transplant account, and Military Relief Fund