MO HB1693

Establishes procedures for unclaimed United States savings bonds to escheat (transfer) to Missouri after remaining unclaimed for more than three years after maturity, with the state treasurer retaining custody and redeeming the bonds into the abandoned fund account.

Requires the state treasurer to initiate a civil action in Cole County circuit court after 180 days following the second three-year period to determine if savings bonds should escheat to the state, with bonds vesting solely in Missouri upon court judgment.

Permits individuals to file claims for escheated savings bonds or their proceeds in accordance with existing claim procedures, allowing the treasurer to pay valid claims with sufficient proof.

Allows the treasurer to make public records of names and last known addresses of persons named on escheated savings bonds and redemption amounts under $50, while protecting Social Security numbers and other identifying information from public disclosure.

Authorizes the state treasurer with gubernatorial approval to contract with third parties for identifying and processing abandoned or escheated property held by out-of-state businesses or governmental entities, with compensation based on a percentage of property recovered.