Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee passes bill letting auditor convert abandoned securities after seven years
Summary
The Senate Insurance & Commerce committee passed House Bill 14 27 to let the auditor of state's office convert abandoned securities to cash immediately after the existing seven‑year abandonment period rather than waiting an additional three years, while continuing efforts to locate owners.
The Senate Insurance & Commerce committee voted to pass House Bill 14 27, a measure that would allow the auditor of state's office to convert abandoned securities to cash once the current seven‑year presumption of abandonment has elapsed, rather than waiting a further three years under existing law.
Representative Eaves, who presented the bill to the committee, said the auditor’s office works to reunite owners with property and has returned about $66,000,000 to Arkansans to date. He told the committee that Arkansas…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat