Bill > S2019

Introduced Session

This bill requires holders in possession of an account containing monies collected and deposited in a rental security deposit account established and maintained by a landlord of real property that is presumed to be abandoned and subject to custody as unclaimed property under the "Uniform Unclaimed Property Act" to send, by certified mail, return receipt requested, a second written notice to the landlord at the last known address informing him that the holder is in possession of the account. Currently, a holder in possession of property presumed to be abandoned is required to send a single notice to the account owner informing him of the account and its content not more than 120 days, but not less than 60 days, before filing a report of abandoned property with the State Treasurer. This bill provides that, in addition to sending this initial notice as required under the act, the holder in possession of a rental security deposit account that is presumed to be abandoned must send an additional notice to the landlord informing him of the account and its content no more than 60 days, but not less than 30 days after the initial notice is sent.

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Brian Stack (D)*, 

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 06/03/2010)