HB947

Louisiana HB947 establishes rules for handling abandoned digital assets, including definitions, presumption of abandonment, and procedures for.

Louisiana HB947 creates a framework for managing abandoned digital assets. It defines key terms such as "digital asset," "digital asset account," and "qualified custodian." The bill presumes a digital asset account is abandoned three years after certain events, such as undelivered communications to the owner. Holders of presumed abandoned digital assets must report and transfer the assets to a qualified custodian selected by the administrator.