Change provisions relating to unclaimed property proceeds and funds and a statute of limitations

Summary

The measure updates how unclaimed property is handled by establishing a trust fund for deposits, limiting the state treasurer’s enforcement period to seven years, and setting new rules for finder fees and confidentiality. It affects holders of abandoned assets, the state treasurer’s office, and commercial finders of lost property. The changes aim to streamline escheat processes and direct excess balances to school and Capitol restoration accounts.

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