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ND HB1149
Bill
Status
4/1/2025
Primary Sponsor
Lawrence Klemin
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AI Summary
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Adds virtual currency to the list of property types presumed abandoned after 3 years of owner inactivity, requiring holders to liquidate virtual currency within 30 days before filing reports and remit proceeds to the administrator
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Expands property presumed abandoned to include excess proceeds from sales of abandoned vehicles (under chapter 23.1-15) and from public/private property sales (under chapter 57-28)
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Authorizes the administrator to allow holders to voluntarily disclose unclaimed property, with record retention requirements extended to cover voluntary disclosure participants
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Adds civil monetary judgments with execution orders from state courts to the list of enforceable debts that can be satisfied from unclaimed property held by the administrator
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Removes certain restrictions on interstate cooperation, allowing the administrator to exchange information with other states and foreign countries without the previous conditional limitation; passed unanimously (House 92-0, Senate 44-0) as an emergency measure
Legislative Description
The revised uniform unclaimed property act; and to declare an emergency.
Last Action
Filed with Secretary Of State 03/31
4/2/2025