2019-2020 Session
Change SessionH.550 (Act 93)
An act relating to unclaimed property
- Sponsor(s)
- Last Recorded Action
- Senate 5/1/2020 - House message: Governor approved bill on April 29, 2020
Bill/Resolution Text
NOTE: to print information that appears on a tab within the bill page, use the Print link on that tab.
An act relating to unclaimed property
Detailed Status
Regular Session 2019-2020
Body | Date | Journal | Calendar | Location | Full Status |
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An act relating to unclaimed property
Roll Call History
Regular Session 2019-2020
Body | Date | Journal | Location | Full Status |
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Although procedurally bills and resolutions are assigned to only one committee at a time, other committees may review the bill or resolution. This page contains results from both the assigned committee as well as other committees.
An act relating to unclaimed property
Committee Meetings
Regular Session 2019-2020
Meeting Date | Committee |
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An act relating to unclaimed property
Meeting Full List
Regular Session 2019-2020
Tuesday, March 26, 2019
- Committee(s):
- House Committee on Commerce and Economic Development
- 9:00 AM
-
H.550 - An act relating to unclaimed property
Beth Pearce, State Treasurer, Office of the State Treasurer
Luke Martland, Director and Chief Counsel, Office of Legislative Counsel
Timothy Duggan, Legal Director, Office of the State Treasurer
Tuesday, April 2, 2019
- Committee(s):
- House Committee on Commerce and Economic Development
- 9:00 AM
-
H.550 - An act relating to unclaimed property
Carl Lisman, Commissioner, ULC
Luke Martland, Director and Chief Counsel, Office of Legislative Counsel
- 1:00 PM
-
H.550 - An act relating to unclaimed property
Continued Testimony
Luke Martland, Director and Chief Counsel, Office of Legislative Counsel
Al LaPerle, Director of Unclaimed Property, Office of the State Treasurer
Timothy Duggan, Legal Director, Office of the State Treasurer
Erin Sigrist, President, Vermont Retail & Grocers Association
Jill Rickard, Director of Policy, Department of Financial Regulation
Tuesday, April 9, 2019
- Committee(s):
- House Committee on Commerce and Economic Development
- 9:00 AM
-
H.550 - An act relating to unclaimed property
Jill Rickard, Director of Policy, Department of Financial Regulation
Erin Sigrist, President, Vermont Retail & Grocers Association
Chris D'Elia, President, Vermont Bankers' Association
Chris Rice, Lobbyist, American Council of Life Insurance
Luke Martland, Director and Chief Counsel, Office of Legislative Counsel
Ashlynn Doyon, Executive Assistant and Policy Analyst, Office of the State Treasurer
Timothy Duggan, Legal Director, Office of the State Treasurer
Friday, April 12, 2019
- Committee(s):
- House Committee on Commerce and Economic Development
- 10 min. after Floor
-
H.550 - An act relating to unclaimed property
Timothy Duggan, Legal Director, Office of the State Treasurer
Al LaPerle, Director of Unclaimed Property, Office of the State Treasurer
Ashlynn Doyon, Executive Assistant and Policy Analyst, Office of the State Treasurer
Tuesday, April 23, 2019
- Committee(s):
- House Committee on Commerce and Economic Development
- 3:15 PM
-
H.550 - An act relating to unclaimed property
Mark-up
Luke Martland, Director and Chief Counsel, Office of Legislative Counsel
Timothy Duggan, Legal Director, Office of the State Treasurer
Wendy Morgan, Staff Attorney, Vermont Legal Aid
Friday, January 17, 2020
- Committee(s):
- Senate Committee on Government Operations
- 1:00 PM
-
H.550 - An act relating to unclaimed property
Walk-through
Beth Pearce, State Treasurer, Office of the State Treasurer
Luke Martland, Director and Chief Counsel, Office of Legislative Counsel
Timothy Duggan, Legal Director, Office of the State Treasurer
Al LaPerle, Director of Unclaimed Property, Office of the State Treasurer
Wednesday, January 22, 2020
- Committee(s):
- Senate Committee on Government Operations
- 3:45 PM
-
H.550 - An act relating to unclaimed property
Walk-through
Luke Martland, Director and Chief Counsel, Office of Legislative Counsel
Ashlynn Doyon, Executive Assistant and Policy Analyst, Office of the State Treasurer
Charles Storrow, Lobbyist
Thursday, January 30, 2020
- Committee(s):
- Senate Committee on Government Operations
- 1:30 PM
-
H.550 - An act relating to unclaimed property
Potential vote
Luke Martland, Director and Chief Counsel, Office of Legislative Counsel
Al LaPerle, Director of Unclaimed Property, Office of the State Treasurer
Timothy Duggan, Legal Director, Office of the State Treasurer
Friday, February 14, 2020
- Committee(s):
- Senate Committee on Appropriations
- 1:50 PM
-
H.550 - An act relating to unclaimed property
Sen. Jeanette K. White, Sponsor
Stephanie Barrett, Associate Fiscal Officer, Joint Fiscal Office
Tuesday, March 10, 2020
- Committee(s):
- House Committee on Commerce and Economic Development
- 9:00 AM
-
H.550 - An act relating to unclaimed property
Senator Jeanette K. White
Luke Martland, Director and Chief Counsel, Office of Legislative Counsel
Beth Pearce, State Treasurer, Office of the State Treasurer
Charles Storrow, Lobbyist, Visa, Inc.
Committee Documents
An act relating to unclaimed property
Witnesses Who Testified
Regular Session 2019-2020
House Committee on Commerce and Economic Development
- Chris D'Elia, President, Vermont Bankers' Association
- Ashlynn Doyon, Executive Assistant and Policy Analyst, Office of the State Treasurer
- Timothy Duggan, Legal Director, Office of the State Treasurer
- Al LaPerle, Director of Unclaimed Property, Office of the State Treasurer
- Carl Lisman, Commissioner, ULC
- Luke Martland, Director and Chief Counsel, Office of Legislative Counsel
- Wendy Morgan, Staff Attorney, Vermont Legal Aid
- Beth Pearce, State Treasurer, Office of the State Treasurer
- Chris Rice, Lobbyist, American Council of Life Insurance
- Jill Rickard, Director of Policy, Department of Financial Regulation
- Erin Sigrist, President, Vermont Retail & Grocers Association
- Charles Storrow, Lobbyist, Visa, Inc.
- Senator Jeanette K. White
Senate Committee on Appropriations
- Stephanie Barrett, Associate Fiscal Officer, Joint Fiscal Office
- Sen. Jeanette K. White, Sponsor
Senate Committee on Government Operations
- Ashlynn Doyon, Executive Assistant and Policy Analyst, Office of the State Treasurer
- Timothy Duggan, Legal Director, Office of the State Treasurer
- Al LaPerle, Director of Unclaimed Property, Office of the State Treasurer
- Luke Martland, Director and Chief Counsel, Office of Legislative Counsel
- Beth Pearce, State Treasurer, Office of the State Treasurer
- Charles Storrow, Lobbyist
Fiscal notes and materials available on this web page are provided for informational purposes only, and may not comprise all materials received by the Vermont Legislature or the final fiscal information related to a specific bill. The Legislature is not responsible for the accuracy of any information in these materials, and their posting does not constitute approval or endorsement by the Legislature.
No fiscal documents found for H.550 in the Regular Session 2019-2020.
No committee of conference members found for H.550 in the Regular Session 2019-2020.
An act relating to unclaimed property
Committee of Conference Meetings
Regular Session 2019-2020
Meeting Date | Committee |
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An act relating to unclaimed property
Committee of Conference Meeting Full List
Regular Session 2019-2020
No committee of conference meeting history found for H.550 in the Regular Session 2019-2020.
No committee of conference report found for H.550 in the Regular Session 2019-2020.
Act
An act relating to unclaimed property
Statutes Affected
Regular Session 2019-2020
Statute |
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27 V.S.A. §§ 1241-1270. Repealed. 2019, No. 93 (Adj. Sess.), § 1. |
27 V.S.A. § 1451. Short title |
27 V.S.A. § 1452. Definitions |
27 V.S.A. § 1453. Inapplicability to foreign transaction |
27 V.S.A. § 1454. Rulemaking |
27 V.S.A. § 1461. When property presumed abandoned |
27 V.S.A. § 1462. When tax-deferred retirement account presumed abandoned |
27 V.S.A. § 1463. When other tax-deferred account presumed abandoned |
27 V.S.A. § 1464. When custodial account for minor presumed abandoned |
27 V.S.A. § 1465. When contents of safe-deposit box presumed abandoned |
27 V.S.A. § 1466. When stored-value card presumed abandoned |
27 V.S.A. § 1467. When security presumed abandoned |
27 V.S.A. § 1468. When related property presumed abandoned |
27 V.S.A. § 1469. Indication of apparent owner interest in property |
27 V.S.A. § 1470. Knowledge of death of insured or annuitant |
27 V.S.A. § 1471. Deposit account for proceeds of insurance policy or annuity contract |
27 V.S.A. § 1472. Unclaimed life insurance benefits |
27 V.S.A. § 1473. When abandonment period is accelerated |
27 V.S.A. § 1481. Address of apparent owner to establish priority |
27 V.S.A. § 1482. Address of apparent owner in this State |
27 V.S.A. § 1483. If records show multiple addresses of apparent owner |
27 V.S.A. § 1484. Holder domiciled in this State |
27 V.S.A. § 1485. Custody if transaction took place in this State |
27 V.S.A. § 1486. Traveler's check, money order, or similar instrument |
27 V.S.A. § 1487. Burden of proof to establish Administrator's right to custody |
27 V.S.A. § 1491. Report required by holder |
27 V.S.A. § 1492. Content of report |
27 V.S.A. § 1493. When report to be filed |
27 V.S.A. § 1494. Retention of records by holder |
27 V.S.A. § 1495. Property reportable and payable or deliverable absent owner demand |
27 V.S.A. § 1496. Electric utility cooperatives |
27 V.S.A. § 1501. Notice to apparent owner by holder |
27 V.S.A. § 1502. Contents of notice by holder |
27 V.S.A. § 1503. Notice by Administrator |
27 V.S.A. § 1504. Cooperation among State officers and agencies to locate apparent owner |
27 V.S.A. § 1511. Definition of good faith |
27 V.S.A. § 1512. Dormancy charge |
27 V.S.A. § 1513. Payment or delivery of property to Administrator |
27 V.S.A. § 1514. Effect of payment or delivery of property to Administrator |
27 V.S.A. § 1515. Recovery of property by holder from Administrator |
27 V.S.A. § 1516. Property removed from safe-deposit box |
27 V.S.A. § 1517. Crediting income or gain to owner's account |
27 V.S.A. § 1518. Administrator's options as to custody |
27 V.S.A. § 1519. Disposition of property having no substantial value; immunity from liability |
27 V.S.A. § 1520. Periods of limitation and repose |
27 V.S.A. § 1531. Public sale of property |
27 V.S.A. § 1532. Disposal of securities |
27 V.S.A. § 1533. Recovery of securities or value by owner |
27 V.S.A. § 1534. Purchaser owns property after sale |
27 V.S.A. § 1535. Military medal or decoration |
27 V.S.A. § 1541. Deposit of funds by administrator |
27 V.S.A. § 1542. Administrator to retain records of property |
27 V.S.A. § 1543. Expenses and service charges of Administrator |
27 V.S.A. § 1544. Administrator holds property as custodian for owner |
27 V.S.A. § 1551. Claim of another state to recover property |
27 V.S.A. § 1552. When property subject to recovery by another state |
27 V.S.A. § 1553. Claim for property by person claiming to be owner |
27 V.S.A. § 1554. When Administrator must honor claim for property |
27 V.S.A. § 1555. Allowance of claim for property |
27 V.S.A. § 1556. Action by person whose claim is denied |
27 V.S.A. § 1557. Deceased owners; multiple claimants |
27 V.S.A. § 1561. Verified report of property |
27 V.S.A. § 1562. Examination of records to determine compliance |
27 V.S.A. § 1563. Rules for conducting examination |
27 V.S.A. § 1564. Records obtained in examination |
27 V.S.A. § 1565. Evidence of unpaid debt or undischarged obligation |
27 V.S.A. § 1566. Failure of person examined to retain records |
27 V.S.A. § 1567. Report to person whose records were examined |
27 V.S.A. § 1568. Complaint to Administrator about conduct of person conducting examination |
27 V.S.A. § 1569. Administrator's contract with another to conduct examination |
27 V.S.A. § 1570. Limit on future employment |
27 V.S.A. § 1571. Report by Administrator to General Assembly |
27 V.S.A. § 1572. Determination of liability for unreported reportable property |
27 V.S.A. § 1581. Informal conference |
27 V.S.A. § 1582. Review of Administrator's determination |
27 V.S.A. § 1583. Administrative review |
27 V.S.A. § 1584. Judicial remedy |
27 V.S.A. § 1591. Judicial action to enforce liability |
27 V.S.A. § 1592. Interstate and international agreement; cooperation |
27 V.S.A. § 1593. Action involving another state or foreign country |
27 V.S.A. § 1594. Interest and penalty for failure to act in timely manner |
27 V.S.A. § 1595. Other civil penalties |
27 V.S.A. § 1596. Waiver of interest and penalty |
27 V.S.A. § 1601. When agreement to locate property enforceable |
27 V.S.A. § 1602. When agreement to locate property void |
27 V.S.A. § 1603. Right of agent of apparent owner to recover property held by Administrator |
27 V.S.A. § 1604. Asset locators |
27 V.S.A. § 1611. Definitions; applicability |
27 V.S.A. § 1612. Confidential information |
27 V.S.A. § 1613. When confidential information may be disclosed |
27 V.S.A. § 1614. Confidentiality agreement |
27 V.S.A. § 1615. No confidential information in notice |
27 V.S.A. § 1616. Security of information |
27 V.S.A. § 1617. Security breach |
27 V.S.A. § 1618. Indemnification for breach |
27 V.S.A. § 1621. Uniformity of application and construction |
27 V.S.A. § 1622. Relation to Electronic Signatures in Global and National Commerce Act |
27 V.S.A. § 1623. Transitional provision |