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| 2 | 2 | | HOUSE DOCKET, NO. 833 FILED ON: 1/13/2025 |
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| 3 | 3 | | HOUSE . . . . . . . . . . . . . . . No. 1335 |
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| 4 | 4 | | The Commonwealth of Massachusetts |
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| 5 | 5 | | _________________ |
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| 6 | 6 | | PRESENTED BY: |
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| 7 | 7 | | Steven Ultrino |
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| 8 | 8 | | _________________ |
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| 9 | 9 | | To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General |
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| 10 | 10 | | Court assembled: |
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| 11 | 11 | | The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill: |
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| 12 | 12 | | An Act relative to unclaimed property. |
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| 13 | 13 | | _______________ |
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| 14 | 14 | | PETITION OF: |
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| 15 | 15 | | NAME:DISTRICT/ADDRESS :DATE ADDED:Steven Ultrino33rd Middlesex1/13/2025 1 of 2 |
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| 16 | 16 | | HOUSE DOCKET, NO. 833 FILED ON: 1/13/2025 |
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| 17 | 17 | | HOUSE . . . . . . . . . . . . . . . No. 1335 |
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| 18 | 18 | | By Representative Ultrino of Malden, a petition (accompanied by bill, House, No. 1335) of |
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| 19 | 19 | | Steven Ultrino relative to unclaimed property. Financial Services. |
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| 20 | 20 | | The Commonwealth of Massachusetts |
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| 21 | 21 | | _______________ |
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| 22 | 22 | | In the One Hundred and Ninety-Fourth General Court |
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| 23 | 23 | | (2025-2026) |
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| 24 | 24 | | _______________ |
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| 25 | 25 | | An Act relative to unclaimed property. |
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| 26 | 26 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 27 | 27 | | of the same, as follows: |
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| 28 | 28 | | 1 SECTION 1. Section 108 of chapter 156B of the General Laws as appearing in the 2022 |
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| 29 | 29 | | 2Official Edition is hereby amended by inserting after the second sentence the following |
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| 30 | 30 | | 3sentence:- The state secretary shall not require fees for the revival of such corporation if it relates |
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| 31 | 31 | | 4to a person or beneficiary claiming an interest in property surrendered to the state treasurer |
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| 32 | 32 | | 5pursuant to section 10 of chapter 200A. |
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| 33 | 33 | | 6 SECTION 2. Section 10 of chapter 200A of the General Laws as so appearing is hereby |
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| 34 | 34 | | 7amended by adding the following subsection:- |
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| 35 | 35 | | 8 (j)(i) If a person or beneficiary claims an interest in property surrendered to the state |
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| 36 | 36 | | 9treasurer that is held by a terminated corporation, the state treasurer may certify that the |
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| 37 | 37 | | 10terminated corporation may be revived for the sole purpose of the person or beneficiary to collect |
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| 38 | 38 | | 11property held by the terminated corporation valued at $2,000 or less; 2 of 2 |
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| 39 | 39 | | 12 (ii) The state treasurer shall provide the person or beneficiary the certificate of revival of |
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| 40 | 40 | | 13the terminated corporation for the purpose of collecting property of $2,000 or less; and |
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| 41 | 41 | | 14 (iii) The person or beneficiary shall submit the certificate of revival to the state secretary |
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| 42 | 42 | | 15and the state secretary shall waive the fee required in section 108 of chapter 156B for the revival |
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| 43 | 43 | | 16of a terminated corporation for property valued at $2,000 or less. |
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