ID H0174

Changes the presumption standard for abandoned business interests from "presumed abandoned" to "considered abandoned" in Section 14-510, Idaho Code

Stock, shareholding, or other intangible ownership interests are considered abandoned when the owner fails to claim dividends or communicate with the business association in writing for five (5) years and the association cannot locate the owner

Requires at least five (5) unclaimed dividends, distributions, or other sums during the five-year period before an interest can be considered abandoned; if fewer than five payments occur, the abandonment period continues until five unclaimed payments accumulate

Ceases the running of the five-year abandonment period immediately upon the owner communicating with the association regarding the interest or claiming any dividend or distribution

Exempts stock enrolled in automatic dividend reinvestment plans from abandonment provisions unless the owner has not communicated with the plan administrator for five (5) years or the owner's location became unknown for five (5) years based on returned shareholder notifications