The bill amends sections 69-1311 and 69-1317 of the Revised Statutes Cumulative Supplement, 2024, concerning the Uniform Disposition of Unclaimed Property Act. It introduces a requirement for the State Treasurer to publish an annual notice in a legal newspaper of general circulation in each county where the last-known address of any person entitled to abandoned property is located. The notice will include the names and last-known addresses of these individuals, as well as information on how to claim the property. Additionally, the bill specifies that the State Treasurer must mail notices to individuals entitled to property valued at fifty dollars or more, detailing the property and the process for claiming it.

Furthermore, the bill modifies provisions related to the handling of unclaimed property funds. It establishes that all funds received under the act, including proceeds from the sale of abandoned property, will be deposited into the Unclaimed Property Trust Fund, from which claims will be paid. The bill also introduces new confidentiality measures for certain records, stating that social security numbers and other personal information will be treated as confidential. It restricts commercial finders from charging fees for locating abandoned property until twenty-four months after the names have been published, and limits their fees to ten percent of the property value. The original sections of the law being amended are repealed.

Statutes affected:
Introduced: 69-1311, 69-1317
Final Reading: 69-1311, 69-1317
Slip Law: 69-1311, 69-1317