Bill > S05385

This bill extends the term for claiming unclaimed property from three to five years. Specifically, it amends the abandoned property law to extend the time period from three to five years for various types of unclaimed property, including deposits, bond and mortgage payments, negotiable instruments, securities, and wages held by banks, brokers, and life insurance companies. The bill aims to give property owners more time to claim their abandoned property before it is turned over to the state.