Revised Uniform Unclaimed Property Act

The Senate Judiciary Committee heard SB 188 regarding revised Uniform Unclaimed Property Act authored by Sen. Koch and Sen. Randolph.  The bill repeals several provisions related to unclaimed property, including I.C. 32-34-3 on unclaimed money in possession of a court clerk, and adds new provisions on the revised uniform unclaimed property act.  The bill was amended in committee by consent to exclude business to business transactions, address gift cards as property in the act, and phase in the required reporting to the attorney general. The amended bill passed 8-0.

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