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CS for HB 5629 WEST VIRGINIA LEGISLATURE REGULAR SESSION Committee Substitute for House Bill 5629 By Delegates Flanigan, Brooks, Pritt, Fehrenbacher, Stephens, G.
WEST VIRGINIA LEGISLATURE REGULAR SESSION ENGROSSED Committee Substitute for House Bill 5629 By Delegates Flanigan, Brooks, Pritt, Fehrenbacher, Stephens, G.
Reported on February 27, 2026] CS for HB 5629 A BILL to amend and reenact §36-8-1, §36-8-8, §36-8-14, §36-8-15, and §42-1-3c of the Code of West Virginia, 1931, as amended;
reported on February 27, 2026] Eng CS for HB 5629 A BILL to amend and reenact §36-8-1, §36-8-8, §36-8-14, §36-8-15, and §42-1-3c of the Code of West Virginia, 1931, as amended;
1 CS for HB 5629 "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.
1 Eng CS for HB 5629 "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.
For the acquisition and retention of a mineral lease, including bonuses, royalties, 2 CS for HB 5629 compensatory royalties, shut-in royalties, minimum royalties, and delay rentals;
2 Eng CS for HB 5629 For the acquisition and retention of a mineral lease, including bonuses, royalties, compensatory royalties, shut-in royalties, minimum royalties, and delay rentals;
Stock or other evidence of ownership of an interest in a business association or financial organization;
3 Eng CS for HB 5629 Stock or other evidence of ownership of an interest in a business association or financial organization;
3 CS for HB 5629 A bond, debenture, note, or other evidence of indebtedness;
A bond, debenture, note, or other evidence of indebtedness;
(B) Game-related digital content;
4 Eng CS for HB 5629 (B) Game-related digital content;
4 CS for HB 5629 §36-8-8.
§36-8-8.
The owner shall have no recourse against either the holder or the administrator for any gain in value after liquidation.
The owner 5 Eng CS for HB 5629 shall have no recourse against either the holder or the administrator for any gain in value after liquidation.
5 CS for HB 5629 (a) After property has been paid or delivered to the administrator under this article, another state may recover the property if:
(a) After property has been paid or delivered to the administrator under this article, another state may recover the property if:
(b) A claim of another state to recover escheated or abandoned property must be presented in a form prescribed by the administrator, who shall decide the claim within ninety days after it is presented.
6 Eng CS for HB 5629 (b) A claim of another state to recover escheated or abandoned property must be presented in a form prescribed by the administrator, who shall decide the claim within ninety days after it is presented.
CS for HB 5629 (c) The administrator shall may require another state, before recovering property under this section, to agree to indemnify this state and its officers and employees against any liability on a claim to the property.
(c) The administrator shall may require another state, before recovering property under this section, to agree to indemnify this state and its officers and employees against any liability on a claim to the property.
(2) The administrator reasonably believes the person is entitled to receive the property or payment;
7 CS for HB 5629 (2) The administrator reasonably believes the person is entitled to receive the property or payment;
7 CS for HB 5629 (a) An agreement reached between an apparent owner and a finder shall be deemed void and unenforceable if it is made during the timeframe starting from the date the property is considered abandoned and extending up to 24 months following the date the property is either paid to or delivered to the administrator.
(a) An agreement reached between an apparent owner and a finder shall be deemed void and unenforceable if it is made during the timeframe starting from the date the property is considered abandoned and extending up to 24 months following the date the property is either paid to or delivered to the administrator.
(g) If an agreement covered by this section applies to mineral proceeds and the agreement contains a provision to pay compensation that includes a portion of the underlying minerals or any production payment, overriding royalty, compensation royalty, or similar payment, the provision is void and unenforceable.
8 CS for HB 5629 (g) If an agreement covered by this section applies to mineral proceeds and the agreement contains a provision to pay compensation that includes a portion of the underlying minerals or any production payment, overriding royalty, compensation royalty, or similar payment, the provision is void and unenforceable.
CS for HB 5629 CHAPTER 42.
CHAPTER 42.
NOTE:
The purpose of this bill is to update the West Virginia Uniform Unclaimed Property Act.
Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.
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