Enrolled Senate Bill (S)

Co-Authored by

DIGEST

Unclaimed property act and savings bonds. Provides that, for purposes of the law concerning unclaimed property, United States savings bonds are presumed abandoned three years after the date the bonds stop earning interest. Provides that all property rights and legal title to United States savings bonds and proceeds from the bonds vest solely in the state. Requires the attorney general to: (1) collect any United States savings bonds escheated to the state, including any proceeds from the bonds; and (2) transfer all money received to the treasurer of state for deposit in the abandoned property fund. Allows a person who Unclaimed property act and savings bonds. Provides that, for purposes of the law concerning unclaimed property, United States savings bonds are presumed abandoned three years after the date the bonds stop earning interest. Provides that all property rights and legal title to United States savings bonds and proceeds from the bonds vest solely in the state. Requires the attorney general to: (1) collect any United States savings bonds escheated to the state, including any proceeds from the bonds; and (2) transfer all money received to the treasurer of state for deposit in the abandoned property fund. Allows a person who wishes to make a claim for a United States savings bond escheated to the state to file a claim with the attorney general. ... View more