This bill amends existing law regarding inactive Internet gaming accounts in New Jersey. It stipulates that any amounts remaining in these accounts that have been inactive or dormant for a period of three years will be classified as unclaimed property under the Uniform Unclaimed Property Act. The previous law required that such amounts be split equally, with 50% going to the casino licensee and 50% to the casino control fund.

Additionally, the bill mandates that before closing a wagering account, the casino licensee must make an effort to contact the account holder through mail, phone, and computer. This change aims to ensure that account holders are notified before their funds are deemed abandoned property. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 5:12-95.24