HB 1477

AN ACT TO PROVIDE FOR A SAFE DEPOSIT BOX ESCHEATMENT PROCESS; TO REQUIRE BANKS AND FINANCIAL ORGANIZATIONS TO PROVIDE CERTAIN NOTICE TO PERSONS WHO HAVE NOT PAID RENT FOR THEIR SAFE DEPOSIT BOXES; TO AUTHORIZE SUCH BANKS AND FINANCIAL ORGANIZATIONS TO OPEN THE SAFE DEPOSIT BOX AFTER PROPER NOTICE; TO AUTHORIZE THE STATE TREASURER TO RECEIVE CONTENTS FROM THE ABANDONED SAFE DEPOSIT BOX AND SELL THE CONTENTS AT PUBLIC AUCTION; TO AMEND SECTION 89-12-3, MISSISSIPPI CODE OF 1972, TO DEFINE "LAST KNOWN ADDRESS" AND "LAWFUL CHARGES" FOR THE PURPOSES OF THIS ACT; TO AMEND SECTIONS 89-12-5, 89-12-11, 89-12-17, 89-12-30, 89-12-31 AND 7-7-42, MISSISSIPPI CODE OF 1972, TO MODERNIZE CERTAIN PROVISIONS RELATING TO ABANDONED AND UNCLAIMED PROPERTY UNDER THE UNIFORM DISPOSITION OF UNCLAIMED PROPERTY ACT; TO BRING FORWARD SECTION 81-5-64, MISSISSIPPI CODE OF 1972, FOR THE PURPOSE OF POSSIBLE AMENDMENT; AND FOR RELATED PURPOSES.