Utah HB0519 modifies unclaimed property laws, focusing on digital assets.

Utah HB0519 modifies the state's unclaimed property laws by defining terms and establishing standards for the custody and sale of digital assets presumed abandoned. This includes the presumption of abandonment for digital assets, the delivery of abandoned digital assets to the administrator's custody, the sale or liquidation of abandoned digital assets by the holder at the direction of the administrator, and the maintenance of digital asset accounts. The bill also makes technical and conforming changes to existing Utah Code sections.

Utah HB0519 modifies unclaimed property laws, focusing on digital assets.

Utah HB0519 modifies the state's unclaimed property laws by defining terms and establishing standards for the custody and sale of digital assets presumed abandoned. This includes the presumption of abandonment for digital assets, the delivery of abandoned digital assets to the administrator's custody, the sale or liquidation of abandoned digital assets by the holder at the direction of the administrator, and the maintenance of digital asset accounts. The bill also makes technical and conforming changes to existing Utah Code sections.