HB0019 Summary

• Amends the Uniform Disposition of Unclaimed Property Act to require property holders to notify owners of abandoned property at their last known address at least 60 days before filing annual reports with the State Treasurer.

• Requires certified mail notification when the value of abandoned property exceeds $1,000, in addition to first-class mail notice.

• Establishes specific reporting deadlines: banking organizations and insurance companies file by November 1 (for property as of June 30), while business associations and life insurance corporations file by May 1 (for property as of December 31).

• Requires currency exchanges to report unclaimed property within 30 days after their annual examination by the Department of Financial Institutions, with the Department providing the State Treasurer accounting of money orders found during examination.

• Prohibits the State Treasurer from disclosing information from unclaimed property reports to non-governmental entities except for purposes of returning property to owners or those with valid claims, without written consent.