Report Title:

Unclaimed Property; Exemptions; Cooperatives

Description:

Provides that the uniform unclaimed property act does not apply to consumer cooperative associations; requires consumer cooperative associations to file annual reports of unclaimed property (HB1808 HD1).

HOUSE OF REPRESENTATIVES

H.B. NO.

1808

TWENTY-SECOND LEGISLATURE, 2004

H.D. 1

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO UNCLAIMED PROPERTY.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Chapter 421C, Hawaii Revised Statutes, is amended by adding a new section to read as follows:

"421C-    Annual report of unclaimed property. The provisions of chapter 523A shall not apply to associations; provided that each association shall file with the state director of finance an annual report of the property in its possession that would otherwise be subject to the provisions of chapter 523A. The report shall be filed within one hundred twenty days after the close of the association's fiscal year in a form prescribed by the state director of finance."

SECTION 2. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.