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MO HB64

Bill

Status

Introduced

1/5/2011

Primary Sponsor

Michael Corcoran

Click for details

Origin

House of Representatives

2011 Regular Session

AI Summary

  • Reduces abandonment periods for most unclaimed property from seven years to five years, effective January 1, 2000, except for specific property types (traveler's checks, money orders, business dissolutions, and court bonds).

  • Reduces abandonment period for payroll checks from five years to one year, effective January 1, 2012.

  • Exempts property held by political subdivisions under resolutions or trust indentures entered before August 28, 1998, from the new abandonment period requirements if their existing terms differ.

  • Allows public access to unclaimed property records with names and addresses for amounts under fifty dollars or property listed solely in the name of a government entity or political subdivision.

  • Makes it a misdemeanor for state treasurer employees to unlawfully disclose or permit inspection of Social Security numbers or other identifying information from holder reports.

Legislative Description

Changes the laws regarding unclaimed and abandoned property

Last Action

Referred: Financial Institutions (H)

1/27/2011

Committee Referrals

Financial Institutions1/27/2011

Full Bill Text

No bill text available