| SB 1032 | Allows the treasurer to contract with property locators to assist in locating owners of abandoned property |
| Sponsor: | Childers | |||
| LR Number: | 2946S.04I | Fiscal Note: | 2946-04 | |
| Committee: | Local Government and Economic Development | |||
| Last Action: | 02/12/02 - Voted Do Pass S Local Government & Economic | Journal page: | ||
| Development Committee | ||||
| Title: | ||||
| Effective Date: | August 28, 2002 | |||
SB 1032 - This act allows the State Treasurer to contract
with property locators to assist in locating owners of abandoned
property. The property locators must be registered with the
Treasurer pursuant to Section 447.581. Under the terms of the
contract, the Treasurer may assign the property locator up to 500
accounts. The accounts must be at least 24 months old and shall
be assigned at random. The property locator will be paid $15 for
each account in which it finds the owner and for which the owner
has authorized the payment of such fee. The Treasurer must
annually review the performance of the property locator and if
the locator does not locate 30% of the account owners, the
Treasurer may refuse to renew a contract with the locator.
STEPHEN WITTE