RÉSUMÉ DIGEST
ACT 156 (HB 653) 2020 Regular Session Garofalo
Existing law provides a mechanism for businesses to transfer abandoned property to the state
treasurer.
Prior law (R.S. 9:159) required holders of certain categories of abandoned property to report
the abandoned property to the state treasurer when the property had a value of $50 or more.
New law lowers this to a value of $10 or more.
Prior law (R.S. 9:161) required the treasurer, as administrator of unclaimed property, to
advertise the name and address or location of an owner of unclaimed property having a total
value greater than $50. New law raises the threshold from $50 to $100.
Effective Aug. 1, 2020.
(Amends R.S. 9:159(B)(1)-(3) and 161(B))