CS/HB 425: Disposition of Unclaimed Property
GENERAL BILL by Insurance and Banking Subcommittee ; Clemons ; Duggan ; (CO-INTRODUCERS) Benjamin ; Fetterhoff ; Leek
Disposition of Unclaimed Property; Requiring the Department of Financial Services to provide copies of certain wills and trusts, and any codicils or amendments of such wills and trusts, to certain persons upon request; requiring specified agreements for certain claims; increasing the threshold required to use a different method of identity verification for electronic claims; requiring the department to adopt forms for an Unclaimed Property Recovery Agreement and an Unclaimed Property Purchase Agreement, etc.
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Bill History
Date Chamber Action 1/26/2021 House • Filed
2/8/2021 House • Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
2/10/2021 House • Added to Insurance & Banking Subcommittee agenda
2/17/2021 House • Favorable with CS by Insurance & Banking Subcommittee
• Reported out of Insurance & Banking Subcommittee
2/18/2021 House • Laid on Table under Rule 7.18(a)
• CS Filed
2/22/2021 House • Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in State Administration & Technology Appropriations Subcommittee
3/1/2021 House • Added to State Administration & Technology Appropriations Subcommittee agenda
3/2/2021 House • 1st Reading (Original Filed Version)
• 1st Reading (Committee Substitute 1)
3/3/2021 House • Favorable by State Administration & Technology Appropriations Subcommittee
• Reported out of State Administration & Technology Appropriations Subcommittee
• Now in Commerce Committee
3/5/2021 House • Added to Commerce Committee agenda
3/9/2021 House • Favorable by Commerce Committee
3/10/2021 House • Reported out of Commerce Committee
• Bill released to House Calendar
• Added to Second Reading Calendar
3/25/2021 House • Bill added to Special Order Calendar (3/31/2021)
3/31/2021 House • Temporarily postponed, on 2nd Reading
• Added to Second Reading Calendar
4/1/2021 House • Amendment 115109 filed
4/8/2021 House • Bill added to Special Order Calendar (4/13/2021)
4/13/2021 House • Read 2nd time
• Amendment 115109 adopted
• Placed on 3rd reading
• Added to Third Reading Calendar
4/14/2021 House • Read 3rd time
• CS passed as amended; YEAS 118, NAYS 0
4/15/2021 House • Message sent to senate
4/15/2021 Senate • In Messages
4/19/2021 Senate • Referred to Rules -SJ 493
4/20/2021 Senate • Received -SJ 493
4/21/2021 Senate • Withdrawn from Rules -SJ 531
• Placed on Calendar, on 2nd reading
• Substituted for CS/SB 1434 -SJ 532
• Read 2nd time -SJ 531
• Read 3rd time -SJ 532
• CS passed; YEAS 40 NAYS 0 -SJ 532
4/21/2021 House • In Messages
• Ordered enrolled
6/18/2021 • Signed by Officers and presented to Governor
6/21/2021 • Approved by Governor
6/23/2021 • Chapter No. 2021-144
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CS/HB 425, Enrolled (Current Bill Version) Posted 4/21/2021 at 12:34 PM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1434 (c1) Disposition of Unclaimed Property Wright Similar Last Action: 4/21/2021 S Laid on Table, companion bill(s) passed, see CS/HB 425 (Ch. 2021-144) -SJ 532 
Citations - Statutes (7)
Citation Catchline Location in Bill Location In Bill Help 717.119 Payment or delivery of unclaimed property. Page 2 (pdf) 717.124 Unclaimed property claims. Page 3 (pdf) 717.12404 Claims on behalf of a business entity or trust. Page 8 (pdf) 717.1315 Retention of records by claimant’s representatives and buyers of unclaimed property. Page 9 (pdf) 717.1322 Administrative and civil enforcement. Page 10 (pdf) 717.135 Power of attorney to recover reported property in the custody of the department. Page 11 (pdf) 717.1351 Acquisition of unclaimed property. Page 15 (pdf) -
CS/HB 425, Engrossed 1 Posted 4/13/2021 at 10:06 PM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1434 (c1) Disposition of Unclaimed Property Wright Similar Last Action: 4/21/2021 S Laid on Table, companion bill(s) passed, see CS/HB 425 (Ch. 2021-144) -SJ 532
Floor Votes (2)
Date Chamber Result 4/14/2021 5:24 PM House 118 Yeas - 0 Nays 4/21/2021 11:10 AM Senate 40 Yeas - 0 Nays Citations - Statutes (7)
Citation Catchline Location in Bill Location In Bill Help 717.119 Payment or delivery of unclaimed property. Page 2 (pdf) 717.124 Unclaimed property claims. Page 3 (pdf) 717.12404 Claims on behalf of a business entity or trust. Page 8 (pdf) 717.1315 Retention of records by claimant’s representatives and buyers of unclaimed property. Page 9 (pdf) 717.1322 Administrative and civil enforcement. Page 10 (pdf) 717.135 Power of attorney to recover reported property in the custody of the department. Page 11 (pdf) 717.1351 Acquisition of unclaimed property. Page 15 (pdf) -
CS/HB 425, Committee Substitute 1 Posted 2/18/2021 at 8:30 AM
Bill Text: PDF Analyses: State Administration and Technology Appropriations Subcommittee (Post-Meeting) 6/23/2021 (pdf)
Commerce Committee (Post-Meeting) 6/23/2021 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1434 (c1) Disposition of Unclaimed Property Wright Similar Last Action: 4/21/2021 S Laid on Table, companion bill(s) passed, see CS/HB 425 (Ch. 2021-144) -SJ 532
Floor Amendments (1)
Amendment Sponsor Filed Last Floor Action Format 115109 - Strike All Amendment
Remove everything after the enacting clause and insert:Clemons 4/1/2021
3:21 PMHouse: Adopted
4/13/2021PDF Citations - Statutes (6)
Citation Catchline Location in Bill Location In Bill Help 717.124 Unclaimed property claims. Page 2 (pdf) 717.12404 Claims on behalf of a business entity or trust. Page 7 (pdf) 717.1315 Retention of records by claimant’s representatives and buyers of unclaimed property. Page 8 (pdf) 717.1322 Administrative and civil enforcement. Page 9 (pdf) 717.135 Power of attorney to recover reported property in the custody of the department. Page 10 (pdf) 717.1351 Acquisition of unclaimed property. Page 14 (pdf) -
HB 425, Original Filed Version Posted 1/26/2021 at 9:10 AM
Bill Text: PDF Analyses: Insurance and Banking Subcommittee (Post-Meeting) 6/24/2021 (pdf)
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 479313 - Amendment
Remove lines 301-304 and insert:Clemons 2/16/2021
7:19 PMAdopted
2/17/2021PDF Citations - Statutes (6)
Citation Catchline Location in Bill Location In Bill Help 717.124 Unclaimed property claims. Page 2 (pdf) 717.12404 Claims on behalf of a business entity or trust. Page 7 (pdf) 717.1315 Retention of records by claimant’s representatives and buyers of unclaimed property. Page 8 (pdf) 717.1322 Administrative and civil enforcement. Page 9 (pdf) 717.135 Power of attorney to recover reported property in the custody of the department. Page 10 (pdf) 717.1351 Acquisition of unclaimed property. Page 14 (pdf)