AN ACT TO PROVIDE THE DEPARTMENT OF STATE TREASURER AUTHORITY IN THE HANDLING OF UNCLAIMED PROPERTY DETERMINED TO BE OF A HAZARDOUS NATURE OR WHICH IS OTHERWISE REGULATED, ILLEGAL, OR WHICH HAS NO SUBSTANTIAL COMMERCIAL VALUE AND TO PROVIDE GUIDANCE FOR THE PROPER HANDLING AND DISPOSITION OF THESE MATERIALS ON THE PART OF FINANCIAL ORGANIZATIONS. Enacted June 11, 2015. Effective October 1, 2015.
HAZ. MATERIALS IN SAFE DEPOSIT BOX.-AB
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View NCGA Bill Details | 2015-2016 Session |
AN ACT TO PROVIDE THE DEPARTMENT OF STATE TREASURER AUTHORITY IN THE HANDLING OF UNCLAIMED PROPERTY DETERMINED TO BE OF A HAZARDOUS NATURE OR WHICH IS OTHERWISE REGULATED, ILLEGAL, OR WHICH HAS NO SUBSTANTIAL COMMERCIAL VALUE AND TO PROVIDE GUIDANCE FOR THE PROPER HANDLING AND DISPOSITION OF THESE MATERIALS ON THE PART OF FINANCIAL ORGANIZATIONS.Intro. by Hurley.
Bill History:
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Wed, 18 Mar 2015 House: Filed
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Thu, 19 Mar 2015 House: Passed 1st Reading
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Thu, 19 Mar 2015 House: Ref To Com On Judiciary I
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Tue, 24 Mar 2015 House: Withdrawn From Com
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Tue, 24 Mar 2015 House: Re-ref Com On Judiciary II
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Tue, 31 Mar 2015 House: Reptd Fav Com Substitute
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Tue, 31 Mar 2015 House: Cal Pursuant Rule 36(b)
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Tue, 31 Mar 2015 House: Placed On Cal For 04/01/2015
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Wed, 1 Apr 2015 House: Amend Adopted A1
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Wed, 1 Apr 2015 House: Passed 2nd Reading
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Wed, 1 Apr 2015 House: Passed 3rd Reading
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Wed, 1 Apr 2015 House: Ordered Engrossed
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Thu, 2 Apr 2015 House: Regular Message Sent To Senate
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Thu, 2 Apr 2015 Senate: Regular Message Received From House
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Thu, 2 Apr 2015 Senate: Passed 1st Reading
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Thu, 2 Apr 2015 Senate: Ref To Com On Rules and Operations of the Senate
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Thu, 7 May 2015 Senate: Withdrawn From Com
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Thu, 7 May 2015 Senate: Re-ref Com On Pensions & Retirement and Aging
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Wed, 27 May 2015 Senate: Reptd Fav
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Thu, 28 May 2015 Senate: Passed 2nd Reading
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Thu, 28 May 2015 Senate: Passed 3rd Reading
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Thu, 28 May 2015 Senate: Ordered Enrolled
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Mon, 1 Jun 2015 Ratified
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Tue, 2 Jun 2015 Pres. To Gov. 6/2/2015
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Thu, 11 Jun 2015 Signed by Gov. 6/11/2015
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Thu, 11 Jun 2015 Ch. SL 2015-68
Bill Summaries:
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Bill H 291 (2015-2016)Summary date: Jun 15 2015 - View Summary
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Bill H 291 (2015-2016)Summary date: Apr 1 2015 - View Summary
House amendment makes the following changes to the 2nd edition. Amends new GS 116B-55 by clarifying that the prohibition on delivering the contents of a safe deposit box to the Treasurer if the Treasurer makes the specified determinations, is notwithstanding other provisions of law in GS Chapter 116B (Escheats and Abandoned Property) or GS Chapter 53C (Regulation of Banks).
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Bill H 291 (2015-2016)Summary date: Mar 31 2015 - View Summary
House committee substitute makes the following changes to the 1st edition.
Makes technical and organizational changes to proposed GS 116B-55(d).
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Bill H 291 (2015-2016)Summary date: Mar 18 2015 - View Summary
Amends GS 116B-55 to prohibit the contents of a safe deposit box or other safekeeping depository from being delivered to the State Treasurer (Treasurer) if the Treasurer determines the contents of the box: (1) pose a potential public safety issue, (2) are specifically regulated by another agency or authority, (3) are illegal contraband, or (4) do not have substantial commercial value. Requires each financial organization to complete, verify, and return a form that provides identifying information for each item of property, including a good faith estimated value. Provides that if the Treasurer determines that an item of property satisfies one or more of the factors above, the Treasurer will either instruct the financial organization to place the property in the custody of the appropriate local, state, or federal authority or instruct the financial organization to destroy or otherwise dispose of the property. Specifies procedures for when property is delivered to the Treasurer and later determined to satisfy one of the factors above. Provides protection from liability for any loss due to the disposal of any of the box materials identified unless the loss is due to intentional misconduct.
Deletes provisions in GS 116B-70 concerning the destruction of property that has no substantial commercial value by the Treasurer.
Effective October 1, 2015.