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MO SB737
Bill
AI Summary
- Reduces abandonment period for most unclaimed property from seven to five years beginning January 1, 2000, with exceptions for travelers checks, money orders, business dissolutions, and court-related bond proceeds
- Reduces abandonment period for payroll checks from five years to one year effective January 1, 2011
- Exempts property held under resolutions or trust indentures entered into before August 28, 1998 by political subdivisions from the new abandonment periods
- Requires the state treasurer to maintain records of names and last known addresses of persons entitled to abandoned property, available for public inspection
- Protects confidentiality of holder reports and identifying information, making disclosure by treasurer employees a misdemeanor
- Allows amounts under fifty dollars or listed solely in the name of government entities to be released as public information, subject to restrictions on further dissemination
Legislative Description
Modifies the law relating to lost and unclaimed property
Last Action
Hearing Conducted S Financial and Governmental Organizations and Elections Committee
1/25/2010
Committee Referrals
Financial And Governmental Organizations And Elections1/19/2010
Full Bill Text
No bill text available