HB114 Alabama 2023 Session

Updated Apr 19, 2023

House Bill

Enacted

Current Status

Regular Session 2023

Session

Sponsor

Summary

Primary Sponsor: Matt Woods Senator
Republican
Session: Regular Session 2023
Title: Relating to fiduciary funds in the hands of officials; to amend Section 19-3-87, Code of Alabama 1975, to provide for disposition of unclaimed funds held in a county treasury after being unclaimed for a certain number of years; and to amend Section 35-12-73, Code of Alabama 1975, to exempt unclaimed funds under Section 19-3-87, Code of Alabama 1975.
Description: Under existing law there is no provision establishing the disposition of certain unclaimed property held by county officials for five years and subsequently paid into in a county treasury and remaining unclaimed for an additional 10 years.
This bill would provide that following public notice, the rights of any person to recover unclaimed property would be forfeited after remaining in a county treasury for 10 years and then become vested in the county treasury for the construction, maintenance, and repair of county roads and bridges.
This bill would provide that unclaimed funds held by a county under Section 19-3-87, Code of Alabama 1975, are exempt from Section 35-12-73, Code of Alabama 1975.
This bill would also make nonsubstantive, technical revisions to update the existing code language to current style.