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ND HB1149

Bill

Status

Passed

4/1/2025

Primary Sponsor

Lawrence Klemin

Click for details

Origin

House of Representatives

69th Legislative Assembly

AI Summary

  • 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

  • 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)

  • Authorizes the administrator to allow holders to voluntarily disclose unclaimed property, with record retention requirements extended to cover voluntary disclosure participants

  • 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

  • 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

Committee Referrals

Industry and Business2/13/2025
Industry, Business and Labor1/7/2025

Full Bill Text

No bill text available