Bill > HB5629

This bill updates the West Virginia Uniform Unclaimed Property Act by extending the timeframe from 30 to 180 days before funds remaining in a deceased nursing home resident's personal account are presumed abandoned and reported to the State Treasurer, and it introduces a definition for "finder" as someone who helps locate or recover property held by the administrator for a fee. It also clarifies that property held in safe deposit boxes must be delivered to the administrator within 120 days of reporting, requires holders of virtual currency to liquidate it and remit proceeds to the administrator, and mandates that finders must disclose their fees and obtain notarized consent from the apparent owner, with their compensation capped at 10% of the claim value, and establishes that agreements with finders are void if made within 24 months of the property being reported as abandoned. Additionally, the bill allows the administrator to require indemnification from other states seeking to recover property and requires claimants to provide any additional documentation requested by the administrator, while also permitting the administrator to directly pay or deliver property valued under $5,000 to the apparent owner if they are clearly identified on a report. Finally, it modifies how personal property of an intestate estate with no heirs is handled, requiring it to be liquidated by the executor and the proceeds passed to the State Treasurer for deposit into the General Revenue Fund.

Government Affairs

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=5629&year=2026&sessiontype=RS&btype=bill