Senate Bill 2714

AN ACT TO AMEND SECTION 7-7-42, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE STATE FISCAL OFFICER SHALL TRANSFER FUNDS AND REPORT ASSOCIATED PAYEE RECORDS FOR ANY CANCELLED WARRANT TO THE ABANDONED PROPERTY FUND OF THE UNCLAIMED PROPERTY DIVISION OF THE STATE TREASURY; TO DELETE THE REQUIREMENT THAT SUCH FUNDS SHALL REMAIN IN SUCH FUND FOR FIVE YEARS; TO AMEND SECTION 89-12-3, MISSISSIPPI CODE OF 1972, TO DEFINE "LAST-KNOWN ADDRESS," "LAWFUL CHARGES" AND "TANGIBLE PERSONAL PROPERTY," AND TO REVISE CERTAIN TERMS; TO AMEND SECTION 89-12-5, MISSISSIPPI CODE OF 1972, TO REVISE PROVISIONS RELATED TO ABANDONED PROPERTY; TO AMEND SECTION 89-12-17, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT CERTAIN TANGIBLE PERSONAL PROPERTY SHALL BE PRESUMED ABANDONED IF CONDITIONS FOR A PRESUMPTION OF ABANDONMENT EXIST; TO CREATE NEW SECTION 81-5-60, MISSISSIPPI CODE OF 1972, TO ESTABLISH A SAFE DEPOSIT BOX ESCHEATMENT PROCESS; TO CREATE NEW SECTION 81-5-60.1, MISSISSIPPI CODE OF 1972, TO CLARIFY REPORTING REQUIREMENTS FOR REMOVAL OF SAFE DEPOSIT CONTENTS PRIOR TO THE EFFECTIVE DATE OF THIS ACT; TO AMEND SECTION 89-12-11, MISSISSIPPI CODE OF 1972, TO PROVIDE CIRCUMSTANCES IN WHICH A SECURITY SHALL BE PRESUMED ABANDONED; 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 SUBJECT TO REPORTING AND REMITTANCE IN ACCORDANCE WITH SECTION 89-12-28; TO AMEND SECTION 89-12-30, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE STATE TREASURER TO OFFER FOR SALE TANGIBLE PROPERTY DELIVERED UNDER SECTION 89-12-28; TO AMEND SECTION 89-12-31, MISSISSIPPI CODE OF 1972, TO PROVIDE PROTECTION FROM LIABILITY TO THE STATE TREASURER AND THE STATE FOR CERTAIN DAMAGES; TO CREATE NEW SECTION 89-12-44, MISSISSIPPI CODE OF 1972, TO REQUIRE RETENTION OF CERTAIN RECORDS FOR FIVE YEARS; TO CREATE NEW SECTION 89-12-28, MISSISSIPPI CODE OF 1972, TO DIRECT DELIVERY OF A REPORT AND OF CERTAIN PROPERTY TO THE STATE TREASURER; AND FOR RELATED PURPOSES.

In the Senate

• Chris Johnson

  Sponsor

• House of Representatives committee amendmentAdopted

  Adopted Mar 5

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

In the Senate Jan 19 – Feb 5

1. Jan 19Referred to the Senate committee on Business and Financial Institutions
2. Feb 2Reported from committee in the Senate: title sufficient, do pass as a committee substitute
3. Feb 5Committee substitute adopted in the Senate
4. Passed the Senate

In the House of Representatives Feb 5 – Mar 5

1. Feb 5Released in the Senate to be sent on at once
2. Feb 6Sent to the House
3. Referred to the House committee on Banking and Financial Services
4. Feb 26Reported from committee in the House: title sufficient, do pass as amended
5. Mar 5Amended in the House
6. Passed the House as amended

To the Governor Mar 6 – Mar 26

1. Mar 6Returned to the Senate to concur in the House's amendments
2. Mar 26Died on the calendar in the Senate