Mississippi Senate Bill 2714: Safe deposit boxes; create escheatment process for and revise certain portions of Uniform Disposition of Unclaimed Property Act.

Mississippi · 2026 Regular Session

What it does

An Act To Amend Section 7-7-42, Mississippi Code Of 1972, To Provide That The State Fiscal Officer Shall Transfer Funds And Report Associated Payee Records For Any Cancelled Warrant To The Abandoned Property Fund Of The Unclaimed Property Division Of The State Treasury; To Delete The Requirement That Such Funds Shall Remain In Such Fund For Five Years; To Amend Section 89-12-3, Mississippi Code Of 1972, To Define "last-known Address," "lawful Charges" And "tangible Personal Property," And To Revise Certain Terms; To Amend Section 89-12-5, Mississippi Code Of 1972, To Revise Provisions Related To Abandoned Property; To Amend Section 89-12-17, Mississippi Code Of 1972, To Provide That Certain Tangible Personal Property Shall Be Presumed Abandoned If Conditions For A Presumption Of Abandonment Exist; To Create New Section 81-5-60, Mississippi Code Of 1972, To Establish A Safe Deposit Box Escheatment Process; To Create New Section 81-5-60.1, Mississippi Code Of 1972, To Clarify Reporting Requirements For Removal Of Safe Deposit Contents Prior To The Effective Date Of This Act; To Amend Section 89-12-11, Mississippi Code Of 1972, To Provide Circumstances In Which A Security Shall Be…

Latest action

Died On Calendar (2026-03-26)

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