2019 Regular Session ENROLLED
SENATE BILL NO. 116
BY SENATOR HENSGENS
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
1 AN ACT
2 To amend and reenact R.S. 9:155 and to enact R.S. 51:51(G), relative to unclaimed or
3 abandoned property; to provide for the transfer of certain going-out-of-business sale
4 license deposits to the unclaimed property division of the Department of the
5 Treasury; to provide for an effective date; and to provide for related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 9:155 is hereby amended and reenacted to read as follows:
8 §155. Contents of safe deposit box or other safekeeping depository
9 A. Intangible property held in a safe deposit box or other safekeeping
10 depository in this state in the ordinary course of the holder's business, and proceeds
11 resulting from the sale of the property permitted by other law, shall be presumed
12 abandoned if it remains unclaimed by the owner for more than five years after
13 expiration of the lease or rental period on the box or other depository.
14 B.(1) Military medals and all associated documents held in a safe deposit
15 box or other safekeeping depository in this state in the ordinary course of the
16 holder's business shall be presumed abandoned if it remains unclaimed by the
17 owner for more than five years after expiration of the lease or rental period on
18 the box or other depository.
19 (2) Military medals and all associated documents presumed abandoned
20 pursuant to this Subsection shall be forwarded by the holder to the Louisiana
21 Department of Treasury, unclaimed property division.
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 116 ENROLLED
1 (3) The Louisiana Department of Treasury, unclaimed property
2 division, may enter into an agreement with the Louisiana Department of
3 Veterans Affairs whereby the Department of Veterans Affairs may store and
4 locate the appropriate owners for the return of the abandoned military medals
5 and all associated documents.
6 Section 2. R.S. 51:51(G) is hereby enacted to read as follows:
7 § 51. Holding of deposit
8 * * *
9 G. Any deposit remaining in the consumer protection section which was
10 received more than three hundred sixty-five calendar days prior to July 1, 2018,
11 shall revert to the unclaimed property division of the Department of the
12 Treasury in the name of the licensee and the consumer protection section. The
13 provisions of Subsections E and F of this Section shall apply to such deposit.
14 Section 3. This Act shall become effective July 1, 2019.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.