H. B. 2733


(By Delegate Sorah, By Request)
[Introduced March 25, 1993; referred to the
Committee on Finance.]




A BILL to amend and reenact section eight, article eight, chapter thirty-six of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to unclaimed stale dated checks held by the state treasurer.

Be it enacted by the Legislature of West Virginia:
That section eight, article eight, chapter thirty-six of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended and reenacted to read as follows:
ARTICLE 8. UNIFORM DISPOSITION OF UNCLAIMED PROPERTY ACT.

§36-8-8. Property held by courts and public officers and agencies.

(a) All intangible personal property including stale dated state checks, held for the owner by any state or federal court, public corporation, public authority, or public officer in this state, or a political subdivision thereof, that has remained unclaimed by the owner for more than seven years is presumed abandoned: Provided, That this provision shall in no way affectsuch property in the custody or control of any state or federal court in any pending action.
(b) Notwithstanding the provisions of subsection (a) of this section, all intangible personal property in the custody or control of a general receiver of a state court of record appointed pursuant to the provisions of article six, chapter fifty-one of this code, that has remained unclaimed by the owner for more than seven years is presumed abandoned: Provided, That any such property in the custody or control of any such general receiver in which there is any contingent remainder interest, or any vested remainder interest which is subject to open to let in persons not yet in being or to open to let in members of any class, or any executory interest, or executory devise interest, or any base, qualified, conditional, or limited fee estate or interest, or any other qualified, conditional, limited or determinable estate or interest, shall not be presumed abandoned until such property has remained unclaimed for more than seven years after such estate or interest has vested or any such class has closed and the persons entitled to such property have been determined.



NOTE: The purpose of this bill is to include stale dated state checks to property held by courts, public officers and agencies under the Uniform Disposition of Unclaimed Property Act.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.