90th General Assembly
Summary of HB2315
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
House Sponsors:

Senate Sponsors:

Short description: 
UNCLMD PROPRTY-AGRCULTURL COOP                                             

Synopsis of Bill as introduced:
        Amends  the  Uniform  Disposition  of  Unclaimed  Property   Act.      
   Provides that funds held or owing by certain agricultural cooperatives      
   are   presumed  abandoned  if  any  qualified  notice  of  allocation,      
   including capital  stock  issued  as  patronage  distributions  or  to      
   reflect  membership  in  or other capital stock, capital stock credits      
   issued, or dividends  by  an  agricultural  cooperative  has  remained      
   unclaimed  for  more  than  7  years.   Provides  that  the  unclaimed      
   qualified notices of allocation, capital stock, capital stock credits,      
   or  dividends  shall  not  be  subject  to,  or governed by, any other      
   provisions of the Uniform Disposition of Unclaimed Property  Act,  but      
   rather  shall  be used by the agricultural cooperative for the general      
   membership of the agricultural cooperative.                                 
          FISCAL NOTE (Dept. of Agriculture)                                   
          HB2315 will have no fiscal impact on the Dept. of Agriculture.       
        HOUSE AMENDMENT NO. 1.                                                 
        Changes from 7 to 5 years the amount of time a  qualified  notice      
   of  allocation must remain unclaimed before the funds will be presumed      
          FISCAL NOTE, H-AM 1 (Dept. of Agriculture)                           
          HB 2315 will have no fiscal impact on this Dept.                     
          FISCAL NOTE, H-AM 1 (Dpt. of Financial Institutions)                 
          HB 2315 would have a minimal fiscal impact.                          
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   0


 Full Text  Bill Status