HB 1256 — PROPERTY/UNCLAIMED: Provides with respect to abandoned digital assets

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9:159 A.(1) If property reported to the administrator is a digital asset, and the digitalassetholderhastheabilitytodigitalassetholder transferthedigitalhas asset, the digitalabilityto transferthedigitalasset,thedigital assetholder shall transfer that digital asset, or the control necessaryto transfer that digital asset, to the administrator within thirty days from the date on which that digital asset is reported.

Notwithstanding Paragraph (A)(1) of this Section, if the administrator determines a reporteddigitalreported digital asset cannot be accepted due to anyfactoranyfactoror orfactorsin factors in R.S.

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(4)Page After5 obtainingof the8 abilitytoCODING: transfer the digital asset, deliver the digital asset to the administrator at the next reporting cycle.

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1256 ENROLLED (4) After obtaining the ability to transfer the digital asset, deliver the digital asset to the administrator at the next reporting cycle.

Upon approval of a claim, the claimant maymayrequest request the administrator to dispose of a digital asset by sale or liquidation and remit the net proceeds to the claimant.

Page(1) 6The ability of 10the CODING:administrator to manage digital assets in their native form at the time the report is received.

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1256 (1) The ability of the administrator to manage digital assets in their native form at the time the report is received.

(3) Whether the databasemanagementdatabase management system of the administrator supports digital assets in their native form.

AnyorderordirectiveissuedbytheadministratortoadigitalassetholderAnyorderordirectiveissuedbytheadministratorto adigital assetholder to liquidate or sell a digital asset shall include a summary of the factor or factors in Subsection A of this Section that led to the order or directive.

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(4) Notwithstanding any provision to the contrary, the administrator, designated custodian of the administrator, or digital asset holder shall not be held liable for any loss or gain that may or would have been obtained had a digital asset Pagebeen 7held ofand 10transferred CODING:in its native form or sold or liquidated pursuant to any authority in this Chapter.

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1256 been held and transferred in its native form or sold or liquidated pursuant to any authority in this Chapter.

* * * §164.Page 7 of 8 CODING:

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If the treasurer contracts with a designated custodian to carry out the provisions of this Act, then the treasurer shall notifythenotify the legislature in writing within thirty days of the execution of that contract.

PageSPEAKER 8OF ofTHE 10HOUSE CODING:OF REPRESENTATIVES PRESIDENT OF THE SENATE GOVERNOR OF THE STATE OF LOUISIANA APPROVED:

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1256 DIGEST ThedigestprintedbelowwaspreparedbyHouseLegislative Services.

It constitutes nopart of the legislative instrument.

The keyword, one-liner, abstract, and digest do not constitute part of the law or proof or indicia of legislative intent.

[R.S.

1:13(B) and 24:177(E)] HB 1256 Engrossed 2026 Regular Session Mena Abstract:

Provides relative to unclaimed digital assets.

Present law provides for definitions.

Proposed law amends definition of "property" and adds definitions for "designated custodian", "digital asset", "digital asset account", "digital asset holder", "digital asset wallet", and "private key".

Present law provides for particulartime periods after which particular kinds of propertyare presumed abandoned.

Proposed law adds provision providing that digital assets are presumed abandoned three yearsafterthe apparent owner's last indication of interest in that asset and otherwise retains present law.

Proposedlawprovidesrelativetowhatactionsbyanownermaybeconsideredanindication of interest in his digital asset.

Presentlawprovidesforwhentheholderofpropertypresumedabandonedshallsendwritten notice to the apparent owner regarding the property.

Proposed law adds that, relative to digital assets, the notice shall inform the owner that the propertymaybeliquidatediftheownerdoesnotprovideatimelyresponsetotheholder,but otherwise retains present law.

Present law provides that the holder of abandoned property is not liable to the apparent owner for their actions in accordance with present law regarding property presumed abandoned.

Proposed law amends present law to provide that the exemption from liability extends to actionsbyholdersofabandoneddigitalassetsrelativetoproposedlaw,butotherwiseretains present law.

Proposed law provides that the administrator may direct or order a digital asset holder to liquidateadigitalassetbeforethedateonwhichthefilingofareportrequiredbypresentlaw is due.

Proposedlaw provides for alternativedispositions ofthedigital assetpresumedabandoned.

Proposed law provides that if a digital asset is reported to the administrator and the digital asset holder has the ability to transfer that digital asset, that holder shall transfer that asset to the administrator within 30 days from the date of the report of that asset to the administrator, and for record-keeping relative to the transfer.

Proposed law provides for a procedure relative to when a digital asset holder does not have the means necessaryto transfer the abandoned digital asset.

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1256 Proposed law provides that an abandoned digital asset shall not be liquidated until three years after its receipt by the administrator.

Proposed law provides for exemptions under which a digital asset may be liquidated before three years have elapsed.

Proposed law provides for when the administrator mayorder or direct a digital asset holder to liquidate digital assets presumed abandoned.

Proposed law provides that the delivery of the digital asset or its liquidated value to the administrator constitutes delivery for purposes of proposed law.

Proposed law provides certain requirements on the sale or liquidation of an abandoned digitalasset,andprovidesthattheadministratororitsdesignatedcustodianshallnotbeheld liable for any loss or gain resulting from a liquidation.

Proposed law provides for when the administrator may decline to offer a digital asset for sale.

Proposed law provides for free and clear title tothe purchasers of abandoned digital assets sold by the administrator.

Proposed law provides that the administrator shall execute any documents or actions necessary to complete transfer of ownership of digital assets.

Presentlawprovidesforcertainproceduresrelativetothepublicsaleofabandonedproperty.

Proposedlawamendspresentlawtoprovidethattheseprovisionsdonotapplytoabandoned digital assets.

Proposed law provides that the treasurer shall include information regarding the implementationofproposedlawinhisannualreporttothelegislatureandgovernorrequired by present law.

Proposed law provides that the treasurer shall cease including this informationifthetreasurercontractswith adesignatedcustodianto carryout theprovisions of proposed law.

Effective Jan.

1, 2027.

(AmendsR.S.

9:154(A)(19)and(E),160(D);AddsR.S.9:153(13)(j)and(17)through(22), 154(A)(20) and (F), 159(E), 160.1-160.5, and 164(F)) Page 10 of 10 CODING: