North Carolina 2019-2020 Session Status: In Committee 1 D cosponsors

HB 155 — Unclaimed Property Changes.-AB

Last action — Reptd Fav Com Substitute

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2019-2020 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

15 added · 15 removed

Plain-language change summary

In the latest version of Bill HB 155, changes were made to clarify how unclaimed property should be handled when an owner passes away. The amendments specify that any benefits from unclaimed property must be returned to the state Treasurer, ensuring that there is a clear process for managing these assets. This matters because it helps protect the interests of potential heirs and ensures that the state can effectively manage unclaimed property, making it easier for rightful owners to reclaim their assets.

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GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2019 H 1 HOUSE BILL 155 Short Title:
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2019 H 2 HOUSE BILL 155 Committee Substitute Favorable 3/13/19 Short Title:
Representative Hurley.
For a complete list of sponsors, refer to the North Carolina General Assembly web site.
Judiciary, if favorable, Rules, Calendar, and Operations of the House February 25, 2019 A BILL TO BE ENTITLED AN ACT TO MAKE CHANGES TO THE UNCLAIMED PROPERTY STATUTES.
February 25, 2019 A BILL TO BE ENTITLED AN ACT TO MAKE CHANGES TO THE UNCLAIMED PROPERTY STATUTES.
Whenever the owner of any real or personal propertysituated or located within this State dies intestate,ordiestestatebutdidnotdisposeofallrealorpersonalpropertybywill,withoutleaving surviving any heirs, as defined in G.S.
Whenever the owner of anyreal or personal propertysituated or located within this State dies intestate,ordiestestatebutdidnotdisposeofallrealorpersonalpropertybywill,withoutleaving surviving any heirs, as defined in G.S.
*H155-v-1* General Assembly Of North Carolina Session 2019 All sums of money or other personal estate of whatever kind which shall remain in the hands of any administrator, executor, administrator c.t.a., or personal representative when the administration of an estate of a person dying intestate, or partially intestate, without leaving any knownheirs to inherit same,is readyto be closed, unrecovered orunclaimedbysuit, bycreditors, heirs, or others entitled thereto, shall, prior to the closing of the administration of the estate, be paid or delivered by such administrator or executor to the State Treasurer as an escheat and shall be included in the disbursements in the final account of such estate.
*H155-v-2* General Assembly Of North Carolina Session 2019 All sums of money or other personal estate of whatever kind which shall remain in the hands of any administrator, executor, administrator c.t.a., or personal representative when the administration of an estate of a person dying intestate, or partially intestate, without leaving any knownheirs to inherit same,is readyto be closed, unrecoveredorunclaimed bysuit,bycreditors, heirs, or others entitled thereto, shall, prior to the closing of the administration of the estate, be paid or delivered by such administrator or executor to the State Treasurer as an escheat and shall be included in the disbursements in the final account of such estate.
Article1 of Chapter116Bofthe General Statutesis amended byadding a new subsection to read:
Article1ofChapter116BoftheGeneralStatutesisamendedbyadding a new section to read:
Where the rightful owner cannot be appropriatelydetermined, it isthepolicyof theStatethat all benefits realizedfrom anyunclaimed or abandoned property shall accrue to the benefit of higher education for the residents of the State.
Where the rightful owner cannot be appropriatelydetermined, it isthepolicyof theStatethat all benefits realized from anyunclaimed or abandoned property shall accrue to the benefit of higher education for the residents of the State.
If the property is interest-bearing or pays dividends, the interest or dividends shall be paid until the date on which the amount of thedeposits, accounts, orfunds,orthe shares must beremitted ordeliveredto theTreasurerunder G.S.
If the property is interest-bearing or pays dividends, the interest or dividends shall be paid until the date on which the amount of thedeposits, accounts, orfunds,ortheshares must beremittedordelivered totheTreasurerunder G.S.
Page 2 House Bill 155-First Edition General Assembly Of North Carolina Session 2019 "(a) A holder of property presumed abandoned shall make file a report to in an electronic format prescribed by the Treasurer concerning the property.
Page 2 House Bill 155-Second Edition General Assembly Of North Carolina Session 2019 "(a) A holder of property presumed abandoned shall make file a report to in an electronic format prescribed by the Treasurer concerning the property.
(d) A holder who has delivered property other than money to the Treasurer pursuant to this Chapter may reclaim the property if it is still in the possession of the Treasurer,without payinganyfeeorothercharge,uponfilingproofthattheapparentownerhas claimedtheproperty from the holder.
(d) A holder who has delivered property other than money to the Treasurer pursuant to this Chapter may reclaim the property if it is still in the possession of the Treasurer,without payinganyfeeorothercharge,uponfilingproofthatthe apparentownerhas claimedtheproperty from the holder.
(f) If a holder pays or delivers property to the Treasurer in good faith and thereafter another person claims the property from the holder or another state claims the moneyor property underitslawsrelatingto escheatorabandonedorunclaimedproperty,theTreasurer,uponwritten notice of the claim, shall defend the holder against the claim and indemnify the holder against any liability on the claim resulting from payment or delivery of the property to the Treasurer." House Bill 155-First Edition Page 3 General Assembly Of North Carolina Session 2019 SECTION 7.(b) This section is effective when it becomes law and applies to filings made on or after that date.
(f) If a holder pays or delivers property to the Treasurer in good faith and thereafter another person claims the property from the holder or another state claims the moneyor property underitslawsrelatingto escheatorabandonedorunclaimedproperty,theTreasurer,uponwritten notice of the claim, shall defend the holder against the claim and indemnify the holder against any liability on the claim resulting from payment or delivery of the property to the Treasurer." House Bill 155-Second Edition Page 3 General Assembly Of North Carolina Session 2019 SECTION 7.(b) This section is effective when it becomes law and applies to filings made on or after that date.
Page 4 House Bill 155-First Edition
Page 4 House Bill 155-Second Edition
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Action History

  1. Reptd Fav Com Substitute

  2. Re-ref Com On Rules, Calendar, and Operations of the House

  3. Withdrawn From Com

  4. Re-ref to the Com on Finance, if favorable, Rules, Calendar, and Operations of the House

  5. Passed 1st Reading

  6. Ref to the Com on Judiciary, if favorable, Rules, Calendar, and Operations of the House

  7. Filed

Sponsors

Sponsorship breakdown

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0 sponsors · 2 co-sponsors · 177 not signed on

Sponsors (0)

None.

Co-sponsors (2)

Not signed on (177)

177 members have not signed on to this bill.

Show all 177 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
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Frequently asked questions

Who sponsors HB 155?
HB 155 is sponsored by Hurley and Shelly Willingham (Democratic).
What is the current status of HB 155?
This bill died with 2019-2020 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 155?
Track HB 155 free on One Click Politics — get push/email alerts when it moves.

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