Arizona HB2516 revises laws on unclaimed property, detailing procedures for notice, sale, and recovery of abandoned assets.

Arizona HB2516 amends the state's unclaimed property laws, stipulating that the state treasurer must publish notices about abandoned property at least semiannually, directing the public to the state treasurer's website. The state treasurer is tasked with selling securities at prevailing market prices and must sell other securities by reasonable methods. The bill defines terms such as "de minimis property," "financial organization," and "utility." It outlines procedures for holders to report and deliver abandoned property to the state treasurer and mandates the state treasurer to sell.

Arizona HB2516 revises laws on unclaimed property, detailing procedures for notice, sale, and recovery of abandoned assets.

Arizona HB2516 amends the state's unclaimed property laws, stipulating that the state treasurer must publish notices about abandoned property at least semiannually, directing the public to the state treasurer's website. The state treasurer is tasked with selling securities at prevailing market prices and must sell other securities by reasonable methods. The bill defines terms such as "de minimis property," "financial organization," and "utility." It outlines procedures for holders to report and deliver abandoned property to the state treasurer and mandates the state treasurer to sell.