Bill > H3267

This bill proposes to amend Section 3 of Chapter 200A of the General Laws in Massachusetts. It establishes new criteria for determining when a deposit of property held by a person with a residence or place of business in the Commonwealth is presumed to be abandoned. The bill specifies that the owner must have engaged in certain actions within the past three years, such as communicating in writing with the holder, accessing a password-protected account, or maintaining another relationship with the holder, in order for the deposit to not be considered abandoned. This change aims to provide more ways for owners to demonstrate their continued interest in their property and prevent it from being escheated, or transferred to the state, unnecessarily.

Justice

https://malegislature.gov/Bills/191/H3267