Under existing law, abandoned property is subject to the custody of the State Treasurer. This bill would authorize the State Treasurer to take custody of abandoned digital assets and establish guidelines for the disposal of those assets. This bill would authorize the State Treasurer to order the liquidation of certain digital assets. This bill would also clarify the requirements of an enforceable agreement between owners or apparent owners and finders to locate, recover, or assist in the recovery of unclaimed property held by the State Treasurer.

Statutes affected:
Introduced: 35-12-71, 35-12-72, 35-12-76, 35-12-80, 35-12-93