TX clarifies new UP Law & MO passes new UP legislation : Unclaimed Property News and Discussion Blog
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TX clarifies new UP Law & MO passes new UP legislation

by Tracey Reid on 07/15/11

The state legislatures across the country are wrapping up for the summer by passing some significant Unclaimed Property legislation. The State of Texas clarified some of the changes to be wrought by TX HB 257, making it clear that the effective date to report items that meet the new dormancy period is NOT required until 2012.  Holders will not be required to report these fast-forwarded dormancy items for the report that is due on November 1, 2011, so they have enough time to make system modifications. Last, but not least, the effective date to report under the "new reporting deadline" won’t be until July 1, 2013.  That gives all of us a little breathing room for this fall filing season!

Missouri lawmakers have also been busy in the unclaimed property arena.  The Missouri Governor signed SB 366, making some changes regarding cooperative associations and how they deal with unclaimed property into law.   See the link below for the entire bill:  Missouri SB 366

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