HB 1993 -- Unclaimed Property
This bill exempts intangible property due or owed by a business
association to or for the benefit of another business association
resulting from the normal and ordinary course of business from
the provisions relating to unclaimed property and the Uniform
Disposition of Unclaimed Property Act.
The State Treasurer must not enforce the provisions of Chapter
447, RSMo, relating to lost and unclaimed property more than
three years after the holder of property filed a report or gave
express notice of a dispute. If a report is filed fraudulently
with the intent to evade escheatment of property, the State
Treasurer can enforce these provisions within six years after the
report was filed. If no report is filed, the State Treasurer may
enforce these provisions at any time.