House Bill 164 revises the Uniform Unclaimed Property Act in Montana by introducing new definitions and updating procedures related to abandoned property. A significant addition is the definition of "payroll card," which is described as a record evidencing a payroll card account. The bill establishes that property, including payroll cards, is presumed abandoned if unclaimed by the apparent owner for a specified period, with payroll cards being presumed abandoned five years after the last indication of interest. Additionally, the bill allows for reports of presumed abandoned property to be delivered via electronic mail, enhancing communication efficiency.

Key amendments also include the introduction of a new definition for "inflation factor," calculated based on the consumer price index, and requirements for holders of presumed abandoned property to send written notices to apparent owners before filing annual reports. These notices can be sent via email or first-class mail, depending on the owner's consent to electronic communication. The bill further outlines the necessary information holders must provide about the property and the apparent owner, the steps for reclaiming property, and conditions for extensions on report filing. Overall, these changes aim to modernize the handling of unclaimed property and improve the reporting process in Montana.

Statutes affected:
LC Text: 70-9-802, 70-9-803, 70-9-808
HB0164_1(1): 70-9-802, 70-9-803, 70-9-808
HB0164_1(2): 70-9-802, 70-9-803, 70-9-808
HB0164_1(3): 70-9-802, 70-9-803, 70-9-808
HB0164_1(4): 70-9-802, 70-9-803, 70-9-808
HB0164_1(5): 70-9-802, 70-9-803, 70-9-808
HB0164_1(6): 70-9-802, 70-9-803, 70-9-808
HB0164_1(7): 70-9-802, 70-9-803, 70-9-808
HB0164_1(8): 70-9-802, 70-9-803, 70-9-808
HB0164_1: 70-9-802, 70-9-803, 70-9-808
HB0164_2(1): 70-9-802, 70-9-803, 70-9-808
HB0164_2(10): 70-9-802, 70-9-803, 70-9-808
HB0164_2(11): 70-9-802, 70-9-803, 70-9-808
HB0164_2(12): 70-9-802, 70-9-803, 70-9-808
HB0164_2(13): 70-9-802, 70-9-803, 70-9-808
HB0164_2(14): 70-9-802, 70-9-803, 70-9-808
HB0164_2(15): 70-9-802, 70-9-803, 70-9-808
HB0164_2(16): 70-9-802, 70-9-803, 70-9-808
HB0164_2(2): 70-9-802, 70-9-803, 70-9-808
HB0164_2(3): 70-9-802, 70-9-803, 70-9-808
HB0164_2(4): 70-9-802, 70-9-803, 70-9-808
HB0164_2(5): 70-9-802, 70-9-803, 70-9-808
HB0164_2(6): 70-9-802, 70-9-803, 70-9-808
HB0164_2(7): 70-9-802, 70-9-803, 70-9-808
HB0164_2(8): 70-9-802, 70-9-803, 70-9-808
HB0164_2(9): 70-9-802, 70-9-803, 70-9-808
HB0164_2: 70-9-802, 70-9-803, 70-9-808
HB0164_3: 70-9-802, 70-9-803, 70-9-808
HB0164_X(1): 70-9-802, 70-9-803, 70-9-808
HB0164_X(2): 70-9-802, 70-9-803, 70-9-808
HB0164_X(3): 70-9-802, 70-9-803, 70-9-808
HB0164_X(4): 70-9-802, 70-9-803, 70-9-808
HB0164_X(5): 70-9-802, 70-9-803, 70-9-808
HB0164_X: 70-9-802, 70-9-803, 70-9-808