AN ACT TO AMEND SECTION 89-12-3, MISSISSIPPI CODE OF 1972, TO DEFINE "LAST KNOWN ADDRESS" AND "LAWFUL CHARGES" AND TO REVISE CERTAIN TERMS; TO AMEND SECTION 89-12-5, MISSISSIPPI CODE OF 1972, TO REVISE PROVISIONS RELATED TO ABANDONED PROPERTY; TO CREATE NEW SECTION 81-5-60, MISSISSIPPI CODE OF 1972, TO ESTABLISH A SAFE DEPOSIT BOX ESCHEATMENT PROCESS; TO CREATE NEW SECTION 89-12-18, MISSISSIPPI CODE OF 1972, TO SET FORTH CONDITIONS UNDER WHICH PROPERTY HELD IN A SAFE DEPOSIT BOX MAY BE PRESUMED ABANDONED AND ESCHEATED IF PROPER NOTICE HAS BEEN GIVEN; TO CREATE NEW SECTION 89-12-28, MISSISSIPPI CODE OF 1972, TO DIRECT DELIVERY OF A REPORT AND OF SUCH PROPERTY TO THE STATE TREASURER; TO CREATE NEW SECTION 89-12-32, MISSISSIPPI CODE OF 1972, TO SET FORTH THE STATE TREASURER'S RESPONSIBILITY AFTER REPORTED PROPERTY IS DELIVERED; TO CREATE NEW SECTION 89-12-34, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE STATE TREASURER TO OFFER FOR SALE ABANDONED PROPERTY DELIVERED UNDER SECTION 89-12-28; TO CREATE NEW SECTION 89-12-46, MISSISSIPPI CODE OF 1972, TO REQUIRE RETENTION OF CERTAIN RECORDS FOR FIVE YEARS; AND FOR RELATED PURPOSES.

Statutes affected:
As Introduced: 89-12-3, 89-12-5