H. B. 2733
(By Delegate Sorah, By Request)
[Introduced March 25, 1993; referred to the
Committee on Finance.]
A BILL to amend and reenact section eight, article eight, chapter
thirty-six of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to unclaimed stale
dated checks held by the state treasurer.
Be it enacted by the Legislature of West Virginia:
That section eight, article eight, chapter thirty-six of the
code of West Virginia, one thousand nine hundred thirty-one, as
amended, be amended and reenacted to read as follows:
ARTICLE 8. UNIFORM DISPOSITION OF UNCLAIMED PROPERTY ACT.
§36-8-8. Property held by courts and public officers and
agencies.
(a) All intangible personal property
including stale dated
state checks, held for the owner by any state or federal court,
public corporation, public authority, or public officer in this
state, or a political subdivision thereof, that has remained
unclaimed by the owner for more than seven years is presumed
abandoned:
Provided,
That this provision shall in no way affectsuch property in the custody or control of any state or federal
court in any pending action.
(b) Notwithstanding the provisions of subsection (a) of this
section, all intangible personal property in the custody or
control of a general receiver of a state court of record
appointed pursuant to the provisions of article six, chapter
fifty-one of this code, that has remained unclaimed by the owner
for more than seven years is presumed abandoned:
Provided,
That
any such property in the custody or control of any such general
receiver in which there is any contingent remainder interest, or
any vested remainder interest which is subject to open to let in
persons not yet in being or to open to let in members of any
class, or any executory interest, or executory devise interest,
or any base, qualified, conditional, or limited fee estate or
interest, or any other qualified, conditional, limited or
determinable estate or interest, shall not be presumed abandoned
until such property has remained unclaimed for more than seven
years after such estate or interest has vested or any such class
has closed and the persons entitled to such property have been
determined.
NOTE: The purpose of this bill is to include stale dated
state checks to property held by courts, public officers and
agencies under the Uniform Disposition of Unclaimed Property Act.
Strike-throughs indicate language that would be stricken
from the present law, and underscoring indicates new language
that would be added.