Syfert Injury Law Firm

Short title.

Definitions.

Property presumed unclaimed; general rule.

General rules for taking custody of intangible unclaimed property.

Property originated or issued by this state, any political subdivision of this state, or any entity incorporated, organized, created, or otherwise located in the state.

Traveler’s checks and money orders.

Gift certificates and similar credit items.

Checks, drafts, and similar instruments issued or certified by banking and financial organizations.

Bank deposits and funds in financial organizations.

Virtual currency.

Funds owing under life insurance policies, annuity contracts, and retained asset accounts; fines, penalties, and interest; United States Social Security Administration Death Master File.

Lost owners of unclaimed demutualization, rehabilitation, or related reorganization proceeds.

Deposits held by utilities.

Refunds held by business associations.

Unclaimed equity and debt of business associations.

Property of business associations held in course of dissolution.

Property held by agents and fiduciaries.

Property held by fiduciaries under trust instruments.

Property held by courts and public agencies.

Wages.

Contents of safe-deposit box or other safekeeping repository.

Report of unclaimed property.

Notification of apparent owners of unclaimed property.

Payment or delivery of unclaimed property.

Custody by state; holder liability; reimbursement of holder paying claim; reclaiming for owner; payment of safe-deposit box or repository charges.

Crediting of dividends, interest, or increments to owner’s account.

Public sale of unclaimed property.

Deposit of funds.

Dormant campaign accounts; report of unclaimed property.

Unclaimed property claims.

Unclaimed demand, savings, or checking account in a financial institution held in the name of more than one person.

Claims on behalf of a business entity or trust.

Claims by estates.

Joint ownership of unclaimed securities or dividends.

Conflicting claims.

Restatement of jurisdiction of the circuit court sitting in probate and the department.

Small estate accounts.

Determinations of unclaimed property claims.

Garnishment of unclaimed property.

Claim of another state to recover property; procedure.

Administrative hearing; burden of proof; proof of entitlement; venue.

Death certificates.

Court documents.

Election to take payment or delivery.

Destruction or disposition of property having insubstantial commercial value; immunity from liability.

Periods of limitation.

Investigations; examinations; subpoenas.

Retention of records.

Retention of records by claimant’s representatives and buyers of unclaimed property.

Enforcement; cease and desist orders; fines.

Administrative and civil enforcement.

Prohibited practice.

Interstate agreements and cooperation; joint and reciprocal actions with other states.

Actions against holders.

Evidence; estimations; audit reports and worksheets, investigator reports and worksheets, other related documents.

Penalties and interest.

Invalid claims, recovery of property, interest and penalties.

Recovery agreements and purchase agreements for claims filed by a claimant’s representative; fees and costs or total net gain.

Theme park and entertainment complex tickets.

Foreign transactions.

Rulemaking authority.

United States savings bond; unclaimed property; escheatment; procedure.

United States savings bond; claim for bond.

Uniformity of application and construction.

Registration.

Repeal.