AN ACT TO AMEND THE STATUTES GOVERNING THE ESCHEAT FUND TO PROTECT THE PRIVACY OF INFORMATION COLLECTED FOR THE PROCESS OF PAYING CLAIMS; TO ELIMINATE THE FEE PAID BY HOLDERS FOR FILING AN EXTENSION REQUEST; TO REDUCE THE AMOUNT OF PAPERWORK REQUIRED BY HOLDERS; AND TO IMPROVE THE EFFICIENCY AND EFFECTIVENESS OF PROCESSING HOLDER REPORTS. Enacted July 18, 2013. Effective July 18, 2013.
UNCLAIMED PROPERTY PROGRAM IMPROVEMENTS.
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View NCGA Bill Details | 2013-2014 Session |
A BILL TO BE ENTITLED AN ACT TO AMEND THE STATUTES GOVERNING THE ESCHEAT FUND TO PROTECT THE PRIVACY OF INFORMATION COLLECTED FOR THE PROCESS OF PAYING CLAIMS; TO ELIMINATE THE FEE PAID BY HOLDERS FOR FILING AN EXTENSION REQUEST; TO REDUCE THE AMOUNT OF PAPERWORK REQUIRED BY HOLDERS; AND TO IMPROVE THE EFFICIENCY AND EFFECTIVENESS OF PROCESSING HOLDER REPORTS.Intro. by Hurley.
Bill History:
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Wed, 6 Mar 2013 House: Filed
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Mon, 11 Mar 2013 House: Passed 1st Reading
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Mon, 11 Mar 2013 House: Ref To Com On Finance
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Tue, 19 Mar 2013 House: Reptd Fav
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Tue, 19 Mar 2013 House: Cal Pursuant Rule 36(b)
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Tue, 19 Mar 2013 House: Placed On Cal For 03/20/2013
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Wed, 20 Mar 2013 House: Passed 2nd Reading
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Wed, 20 Mar 2013 House: Passed 3rd Reading
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Thu, 21 Mar 2013 Senate: Rec From House
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Thu, 21 Mar 2013 Senate: Passed 1st Reading
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Thu, 21 Mar 2013 Senate: Ref To Com On Finance
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Tue, 25 Jun 2013 Senate: Reptd Fav Com Substitute
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Tue, 25 Jun 2013 Senate: Com Substitute Adopted
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Wed, 26 Jun 2013 Senate: Withdrawn From Cal
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Wed, 26 Jun 2013 Senate: Placed On Cal For 06/27/2013
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Thu, 27 Jun 2013 Senate: Withdrawn From Cal
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Thu, 27 Jun 2013 Senate: Held in Senate Clerk's Office
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Mon, 1 Jul 2013 Senate: Withdrawn From Senate Clerk's Office
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Mon, 1 Jul 2013 Senate: Placed on Today's Calendar
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Mon, 1 Jul 2013 Senate: Passed 2nd Reading
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Mon, 1 Jul 2013 Senate: Passed 3rd Reading
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Wed, 3 Jul 2013 House: Rec From Senate
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Wed, 3 Jul 2013 House: Rec To Concur S Com Sub
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Mon, 8 Jul 2013 House: Cal Pursuant 36(b)
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Mon, 8 Jul 2013 House: Placed On Cal For 07/09/2013
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Tue, 9 Jul 2013 House: Concurred In S/Com Sub
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Tue, 9 Jul 2013 House: Ordered Enrolled
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Wed, 10 Jul 2013 Ratified
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Thu, 11 Jul 2013 Pres. To Gov. 7/11/2013
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Thu, 18 Jul 2013 Signed by Gov. 7/18/2013
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Thu, 18 Jul 2013 Ch. SL 2013-281
Bill Summaries:
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Summary date: Jul 22 2013 - View Summary
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Bill H 257 (2013-2014)Summary date: Jun 25 2013 - View Summary
Senate committee substitute to the 1st edition makes the following changes. Deletes the existing law and proposed changes in GS 116B-6(i) and instead requires the State Treasurer to maintain the records it receives from holders who report unclaimed property according to GS 116B-60. Limits the information that may be subject to public inspection to the information the State Treasurer is required to annually submit to the clerks of superior court. Changes the effective date of the act from July 1, 2013, to when the act becomes law.
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Bill H 257 (2013-2014)Summary date: Mar 6 2013 - View Summary
Amends GS 116B-6(i) to direct the Treasurer to record any other owner information obtained from the holder of property assumed to be abandoned in addition to the holder's name and last known address. Specifies that the required owner information includes Social Security or tax identification number, date of birth, driver's license or state identification number, and email address of each person, annuitant, insured, or beneficiary who may be entitled to the abandoned property based on the holder's report. Provides that the records must be available for inspection at public request within a reasonable time period but provides that access may be limited to those records required to be disclosed in GS 116B-62.
Amends GS 116B-52(11) to define propertyto mean money or tangible personal property (was, tangible property) held by a holder as specified in this section.
Current law requires a holder of property presumed to be abandoned to make a report to the Treasurer regarding the property. Requires the holder of property presumed to be abandoned to file a certification and verificationthat the holder has complied with GS 116B-59. Amends GS 116B-60 to permit holders making the report electronically to file an electronic certification and verification as required to comply with this statute.
Deletes the processing fee for filing a request for an extension of time to file a report.
Effective July 1, 2013, and applies to reports filed or records created on or after that date.