House Bill 104 Alabama 2026 Session

Updated Mar 18, 2026

Notable

Summary

Primary Sponsor: Chris BlackshearRepresentative
Republican
Session: 2026 Regular Session
Title: Uniform Disposition of Unclaimed Property; allow finders to contract and locate State Treasurer property, account for digital assets
Summary: HB104 would bring digital assets into Alabama’s unclaimed-property rules, giving the State Treasurer new authority to custody and liquidate abandoned digital assets and to regulate finder agreements with owners.
What This Bill Does
The bill expands unclaimed-property rules to include digital assets and defines key terms like digital asset and private key. It establishes abandonment timelines for digital assets (three years after last activity if the owner’s last address is in Alabama) and authorizes the Treasurer to take custody and dispose of these assets under guidelines. It sets sale procedures for digital assets (sold at market prices, with delivery of assets as needed and reconciliation within 30 days) and requires holders to report and notify owners before liquidating. It also tightens rules for finder-owner agreements (they must be in writing, specify property and services, state that the asset is in Treasury custody, and cap compensation at 10%; copies must be shared with the Treasurer; effective June 1, 2026).

Who It Affects
Owners or apparent owners of unclaimed property in Alabama, including digital assets, who may have their assets located, recovered, or liquidated and may receive proceeds from sales; they must engage in written finder agreements with defined terms.
State Treasurer, property holders (banks, financial entities, etc.), and finders, who gain authority and responsibilities to custody, liquidate, report, and regulate unclaimed property, including enforcing finder agreements and handling digital assets.

Key Provisions
Defines Digital Asset and related terms and adds digital assets to unclaimed-property rules, allowing the State Treasurer to custody and dispose of abandoned digital assets under set guidelines.
Regulates finder-owner agreements: must be in writing, describe the property and services, confirm custody by the Treasurer, prohibit fees to be paid to recover from the Treasurer, set compensation limits (not to exceed 10%), require ownership signatures, and require a copy to the Treasurer; also outlines enforcement and reporting requirements for those agreements.

AI-generated summary using openai/gpt-5-nano-2025-08-07 on Mar 10, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Property & Estates