SB392

Louisiana SB392 regulates the administration of unclaimed property claims based on purchase agreements, effective January 1, 2027.

Louisiana SB392 establishes rules for the administration of unclaimed property claims based on purchase agreements. It defines key terms such as "executed," "purchase agreement," and "seller." The bill mandates that purchase agreements must be limited to property paid or delivered to the administrator by a holder as of the execution date. It also requires specific documentation to be submitted with a claim, including property identifying numbers, certified search reports, seller information, and identification of the individual who signed the agreement.