DE SB267

Clarifies that holders cannot file amended reports to recover property refunds if claims have been paid, the report was filed during an examination or voluntary disclosure, or more than 3 years have passed for cost of goods sold errors.

Establishes that property presumed abandoned and held by a holder is held in trust for the State Escheator beginning when the property becomes presumed abandoned, requiring holders to establish trust accounts or segregate the property pending delivery.

Allows the State Escheator to decline custody of physical property (including savings bonds, bearer bonds), worthless securities, litigation-risk property, and virtual currency without a ready market, and to require indemnification agreements for early property delivery before full dormancy periods run.

Clarifies that unclaimed property belonging to state agencies or component units included in the state's comprehensive financial report escheats to the General Fund and is not claimable by owners.

Confirms that the State Escheator may use affidavits based on business records to establish notice to owners and may send owner notice letters during examinations in formats prescribed by the State, including for items in statistical samples.