RÉSUMÉ DIGEST
ACT 510 (HB 834) 2022 Regular Session Illg
Existing law (R.S. 9:153(12)) provides a definition of "property" for the purposes of the
Uniform Unclaimed Property Act (R.S. 9:151, et seq.).
New law adds a sports wagering account as defined in existing law (R.S. 27:602) to the
definition of property for the purposes of the Uniform Unclaimed Property Act.
Existing law (R.S. 9:154) provides that property is presumed abandoned if it is unclaimed
by the apparent owner for a certain period of time which depends on the type of the particular
property.
New law provides that funds in a sports wagering account are presumed abandoned if no
activity has occurred for three years after the last date the account owner did any of the
following: placed a wager, deposited funds, withdrew funds, or provided credentials to log
into the account.
New law prohibits a licensee, operator, or sports wagering account operator holding a sports
wagering account which has been abandoned pursuant to new law from charging an
administration fee or maintenance fee for any abandoned sports wagering account derived
from La. residents at any time or for any reason.
Effective August 1, 2022.
(Amends R.S. 9:154(A)(16) and (17); Adds R.S. 9:153(12)(i), 154(A)(18), and 157.1)