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Nebraska Moving Toward Adopting the RUUPA

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NE L.B. 141

On March 6th, the Nebraska state legislators will hold a hearing to debate a proposed complete revision (NE L.B. 141) of the state's Unclaimed Property statute currently in place. Like certain other states, Nebraska is contemplating the adoption of several provisions from the Revised Uniform Unclaimed Property Act (RUUPA), which more clearly defines issues such as dormancy periods, how and when a holder reimbursement is appropriate and when a gift card can be presumed abandoned.

Check back often as we at JMS expect several states to follow suit in adopting the RUUPA in its entirety, or at the least substantive portions, by the end of this legislative season.

Tagged: nebraska unclaimed property, revised unclaimed property law, ruupa, escheat, nebraska escheat