HB 1477

An act to provide for a safe deposit box escheatment process; To require banks and financial organizations to provide certain notice to persons who have not paid rent for their safe deposit boxes; To authorize such banks and financial organizations to open the safe deposit box after proper notice; To authorize the state treasurer to receive contents from the abandoned safe deposit box and sell the contents at public auction; To amend section 89-12-3, mississippi code of 1972, to define "last known address" and "lawful charges" for the purposes of this act; To amend sections 89-12-5, 89-12-11, 89-12-17, 89-12-30, 89-12-31 and 7-7-42, mississippi code of 1972, to modernize certain provisions relating to abandoned and unclaimed property under the uniform disposition of unclaimed property act; To bring forward section 81-5-64, mississippi code of 1972, for the purpose of possible amendment; And for related purposes.