UNCLAIMED PROPERTY: Requires unclaimed property purchase agreements include certain information. (1/1/27) (OR NO IMPACT See Note)

SB 261 requires that purchase agreements for unclaimed property include specific details like the property's identifying number, a court search confirming no other claims, and full seller information (including ID and contact details). It directly affects individuals or entities buying unclaimed property from holders, ensuring transparency in transactions. The bill mandates that all agreements must be unredacted and include documentation proving the seller's authority to transfer the property. The law takes effect on January 1, 2027, applying to agreements executed after that date.