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Committee updates safety-deposit box dormancy period from seven to five years
INSURANCE & COMMERCE - SENATE · January 24, 2019
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Summary
SB80, which reduces the dormancy/reference period for safety-deposit box property from seven years to five to align with the Unclaimed Property Law, passed the Insurance & Commerce Committee by voice vote.
The Insurance & Commerce Committee approved Senate Bill 80, a limited technical change that aligns the banking code’s treatment of safety-deposit box contents with the state’s Unclaimed Property Law by moving a referenced dormancy…
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