House Bill 420

AN ACT TO ENACT THE MISSISSIPPI UNIFORM UNCLAIMED PROPERTY ACT; TO PROVIDE THAT THE STATE TREASURER SHALL BE THE ADMINISTRATOR OF UNCLAIMED PROPERTY IN MISSISSIPPI; TO SET FORTH DEFINITIONS; TO PROVIDE PRESUMPTIONS OF ABANDONMENT; TO PROVIDE RULES FOR TAKING CUSTODY OF ABANDONED PROPERTY; TO ESTABLISH THE BURDEN OF PROOF AS TO PROPERTY EVIDENCED BY RECORD OF CHECK OR DRAFT; TO PROVIDE FOR THE REPORTING OF ABANDONED PROPERTY; TO PROVIDE FOR THE PAYMENT OR DELIVERY OF ABANDONED PROPERTY; TO PROVIDE FOR NOTICE AND PUBLICATION OF LISTS OF ABANDONED PROPERTY; TO ESTABLISH CUSTODY OF ABANDONED PROPERTY IN THE STATE; TO PROVIDE FOR RECOVERY OF ABANDONED PROPERTY BY THE HOLDER AND FOR DEFENSES OF THE HOLDER; TO PROVIDE FOR THE CREDITING OF DIVIDENDS, INTEREST AND INCREMENTS TO THE OWNER'S ACCOUNT; TO PROVIDE FOR PUBLIC SALE OF ABANDONED PROPERTY; TO CREATE THE ABANDONED PROPERTY CLAIMS PAYMENT FUND; TO PROVIDE FOR THE DEPOSIT OF FUNDS RECEIVED UNDER THIS ACT; TO PROVIDE FOR THE MANNER OF MAKING A CLAIM OF ANOTHER STATE TO RECOVER PROPERTY; TO PROVIDE FOR THE FILING AND HANDLING OF CLAIMS BY THE ADMINISTRATOR; TO CREATE AN ACTION TO ESTABLISH A CLAIM; TO ALLOW THE ADMINISTRATOR TO ELECT WHETHER TO TAKE PAYMENT OR DELIVERY OF UNCLAIMED PROPERTY; TO PROVIDE IMMUNITY FROM LIABILITY FOR THE DESTRUCTION OR DISPOSITION OF PROPERTY HAVING NO SUBSTANTIAL COMMERCIAL VALUE; TO PROVIDE PERIODS OF LIMITATION FOR MAKING CLAIMS UNDER THIS ACT; TO PROVIDE FOR THE PAYMENT OF INTEREST AND PENALTIES BY A HOLDER WHO FAILS TO REPORT, PAY, OR DELIVER PROPERTY IN ACCORDANCE WITH THE PROVISIONS OF THIS ACT; TO REPEAL SECTIONS 89-12-1 THROUGH 89-12-57, MISSISSIPPI CODE OF 1972, WHICH CONSTITUTE THE UNIFORM DISPOSITION OF UNCLAIMED PROPERTY ACT; AND FOR RELATED PURPOSES.

In the House of Representatives

• Bobby Moak

  Sponsor

l9n doesn't hold this bill's text yet.

In the House of Representatives Jan 12 – Feb 3

1. Jan 12Referred to the House committee on Judiciary A
2. Feb 3Died in committee in the House