Uniform Unclaimed Property Act

The 1995 Act “provides a system for transferring intangible personal property and personal property in safety deposit accounts, held by an entity or person other than the rightful owner, to the State when it is deemed abandoned by the rightful owner. The State holds the property for the rightful owner in perpetuity.” The 1995 Act has been adopted by 11 states: Arizona, Arkansas, Indiana, Kansas, Louisiana, Maine, Michigan, Montana, New Mexico, North Carolina and West Virginia; it has been introduced in two states, Connecticut and Mississippi, in 2003.