Uniform Disposition of Unclaimed Property; allow finders to contract and locate State Treasurer property, account for digital assets
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill updates Alabama’s process for handling unclaimed property. It allows ‘finders’ to contract with the State Treasurer to locate and recover abandoned property, including digital assets. The bill establishes guidelines for abandoned digital assets, authorizes the liquidation of some of these assets, and clarifies the requirements for enforceable agreements related to property recovery. It aims to modernize the state’s unclaimed property system to better address contemporary assets like cryptocurrencies and digital records.
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