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AlabamaHB1042026 Regular SessionHouseWALLET

Uniform Disposition of Unclaimed Property; allow finders to contract and locate State Treasurer property, account for digital assets

Sponsored By: Chris Blackshear (Republican)

Enacted

Property & Estates

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 1 benefits, 1 costs, 3 mixed.

Finder fees capped for property owners

Beginning June 1, 2026, finder fees and profit cannot exceed 10% of the amount claimed or collected. Written agreements must identify the property and services, disclose fees and deductions, and explain how to recover Treasurer-held property for free. The owner must sign, and a full, unredacted signed copy must accompany the claim. Agreements made from the date property becomes presumed abandoned through 24 months after delivery to the Treasurer are void. Specified business asset purchases tied to bankruptcy, company dissolution, or similar proceedings are excluded.

Inactive digital assets become unclaimed property

The law treats digital assets in an account as abandoned after three years without owner activity. The owner's address or another indication must link the owner to Alabama. Account access, replies to the holder, transactions, and other actions showing awareness count as activity. Automated, recurring, and scheduled transactions do not count. The rule covers qualifying non-fiat digital assets recorded on secure shared ledgers, but excludes software, protocols, video-game content, and loyalty or gift cards.

Owner warnings but fewer local sale notices

Holders must warn owners that securities, digital assets, or safe-deposit-box contents may be sold without a timely response. Written notice is due at least 60 days before reporting. It applies when the holder has an address not marked inaccurate, the claim's legal deadline has not passed, and the property is worth at least $50 or a higher amount set by rule. Beginning June 1, 2026, abandoned-property sales still require at least one published notice at least three weeks before the sale. But that notice no longer must appear in a newspaper serving the county where the sale occurs.

Owners cannot claim later property gains

Beginning June 1, 2026, you can claim property still held by the Alabama State Treasurer. If it has been sold, you can claim the sale money minus deducted fees and expenses. You cannot claim later increases or decreases in value after the sale. That protection covers the state, Treasurer, holder, transfer agents, auctioneers, and other agents listed in the law.

State custody and sales for digital assets

Beginning June 1, 2026, holders with enough transfer information must report abandoned digital assets and deliver them in their original digital form. Delivery to the Alabama State Treasurer is due within 30 days after reporting, following the Treasurer's instructions. Holders must provide a matching record within 30 days after delivery; those lacking transfer information must keep the assets until they obtain it. The Treasurer may refuse assets that cannot transfer freely, have little value, or cost more to maintain, notify owners, and sell than they are worth. The Treasurer may exempt asset types from reporting or sale, or order holders to sell within 30 days after reporting. Digital assets may be sold upon receipt, with exchange-listed assets sold at current exchange prices.

Sponsors & Cosponsors

Sponsor

  • Chris Blackshear

    Republican • House

Cosponsors

  • Andy Whitt

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 445 • No: 1

House vote • 3/12/2026

Blackshear Concur In and Adopt - Adopted Roll Call 892

Yes: 104 • No: 0 • Other: 1

Senate vote • 3/10/2026

Chambliss motion to Adopt - Adopted Roll Call 768

Yes: 35 • No: 0

Senate vote • 3/10/2026

Third Reading in Second House

Yes: 35 • No: 0

Senate vote • 3/10/2026

Motion to Read a Third Time and Pass as Amended - Adopted Roll Call 769

Yes: 35 • No: 0

Senate vote • 3/10/2026

Albritton motion to Adopt - Adopted Roll Call 767

Yes: 35 • No: 0

House vote • 1/20/2026

Motion to Read a Third Time and Pass - Adopted Roll Call 66

Yes: 100 • No: 1 • Other: 1

House vote • 1/20/2026

Third Reading in House of Origin

Yes: 101 • No: 0 • Other: 1

Actions Timeline

  1. Enacted

    3/26/2026House

  2. Enrolled

    3/17/2026House

  3. Delivered to Governor

    3/17/2026House

  4. Signature Requested

    3/17/2026Senate

  5. Blackshear Concur In and Adopt - Adopted Roll Call 892

    3/12/2026House

  6. Ready to Enroll

    3/12/2026House

  7. Third Reading in Second House

    3/10/2026Senate

  8. Albritton 1st Amendment Offered

    3/10/2026Senate

  9. Albritton motion to Adopt - Adopted Roll Call 767

    3/10/2026Senate

  10. Chambliss 1st Amendment Offered

    3/10/2026Senate

  11. Chambliss motion to Adopt - Adopted Roll Call 768

    3/10/2026Senate

  12. Motion to Read a Third Time and Pass as Amended - Adopted Roll Call 769

    3/10/2026Senate

  13. Read for the Second Time and placed on the Calendar

    2/5/2026Senate

  14. Reported Out of Committee Second House

    2/4/2026Senate

  15. Third Reading in House of Origin

    1/20/2026House

  16. Motion to Read a Third Time and Pass - Adopted Roll Call 66

    1/20/2026House

  17. Read for the first time and referred to the Senate Committee on Finance and Taxation General Fund

    1/20/2026Senate

  18. Pending Committee Action in Second House

    1/20/2026Senate

  19. Reported Out of Committee House of Origin

    1/14/2026House

  20. Read for the Second Time and placed on the Calendar

    1/14/2026House

  21. Read for the first time and referred to the House Committee on Financial Services

    1/13/2026House

  22. Pending Committee Action in House of Origin

    1/13/2026House

Bill Text

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