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.
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.
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