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LA SB261
Bill
Status
2/26/2026
Primary Sponsor
John Morris
Click for details
AI Summary
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Purchase agreements transferring ownership of unclaimed property must be limited to property already delivered to the state treasurer as of the agreement's execution date; any portion covering property delivered after execution is null and void
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Claims filed through purchase agreements must include an unredacted, executed copy of the agreement along with 10 categories of documentation, including the property ID number, certified clerk of court search report showing no priority claims, seller identification, and government-issued ID of the signer
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The state treasurer must verify sufficient documentation before paying any claim and must deny claims where the purchase agreement fails to comply with the new requirements
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Applies to purchase agreements executed on or after January 1, 2027
Legislative Description
Requires unclaimed property purchase agreements include certain information. (1/1/27) (OR NO IMPACT See Note)
UNCLAIMED PROPERTY
Last Action
Introduced in the Senate; read by title. Rules suspended. Read second time and referred to the Committee on Finance.
3/9/2026