MS HB1675

Amends Mississippi's Uniform Disposition of Unclaimed Property Act to define "farm credit system cooperative associations" as farmer-owned cooperatives chartered under the Farm Credit Act of 1971 and regulated by the Farm Credit Administration.

Exempts farm credit system cooperative associations from requirements to turn over abandoned stock, ownership interests, dividends, and distributions to the state after five years of non-contact.

Allows farm credit system cooperative associations to retain unclaimed funds for the benefit of their general membership, aligning them with existing exemptions for nonprofit cooperative electric power, water and sewer, and agricultural marketing associations.

Effective July 1, 2024.