All Roll Calls
Yes: 136 • No: 0
North DakotaHB 11492025 Regular SessionHouseWALLET
AN ACT to amend and reenact sections 47-30.2-04, 47-30.2-24, 47-30.2-32, 47-30.2-39, 47-30.2-50, 47-30.2-52, 47-30.2-55, and 47-30.2-63 of the North Dakota Century Code, relating to the revised uniform unclaimed property act; and to declare an emergency.
Sponsored By: Lawrence R. Klemin (Republican)
Became Law
Your PRIA Score
Score Hidden
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
10 provisions identified: 1 benefits, 9 costs, 0 mixed.
Court, bond, and government fund deadlines
Court‑held money, including class action funds, is treated as abandoned if unclaimed 3 years after it becomes payable. State or municipal bonds, bearer bonds, and OID bonds are abandoned 3 years after the earliest of maturity, call, or when principal is due. Money held by a government agency is abandoned 3 years after it is distributable.
Deadlines for checks and store credits
Uncashed checks are treated as abandoned after 2 years. Cashier’s and certified checks are abandoned after 2 years, money orders after 7 years, and traveler’s checks after 15 years. Store credits (not in‑store returns credit) and unpaid business debts are abandoned after 3 years. Distributions from a dissolving business must be claimed within 1 year. After these times, the money moves to the state’s unclaimed property system.
Deadlines for wages and deposits
Unclaimed wages, bonuses, and reimbursements become abandoned after 1 year. Utility deposits or refunds are abandoned after 1 year if not claimed. Security deposits, including interest, must be claimed within 1 year after the agreement ends, minus any court‑ordered deductions.
Inactive bank and payroll accounts
Payroll cards and bank deposits become unclaimed after 5 years of no activity, measured from maturity or your last sign of interest. For auto‑renew time deposits, the law treats maturity as the first maturity date unless you gave written consent to renew. If paying a renewing deposit to the state would cause a penalty or lost interest, the holder may delay payment and must tell the administrator the later date.
Life insurance and annuity deadlines
Money owed on life or endowment policies or annuities is treated as abandoned 3 years after the duty to pay starts. For death benefits, life or endowment amounts are abandoned 3 years after the insurer knows of the death or the insured reaches the limiting age, whichever is earlier. Annuity amounts are abandoned 3 years after the insurer learns of the annuitant’s death.
New rules for unclaimed crypto
Virtual currency is treated as abandoned after 3 years with no owner activity. Before reporting it to the state, the holder must sell the crypto within 30 days before filing and send the cash. After the sale, owners cannot claim any later gains in value.
New compliance rules for holders
When you file an unclaimed property report, you must also deliver the reported property to the state. Keep unclaimed‑property records for 10 years after the later of filing or the due date, and longer if you get an exam or voluntary disclosure notice. Records must include set data like owner details, dates, amounts, and compliance proof. You may use an agent to keep these records, but you remain responsible.
State handling of unclaimed securities
For reported securities, the administrator can direct transfers or sell them under law. The state can get replacement certificates from an issuer without an indemnity bond. The administrator must set clear procedures for receiving, keeping, and transferring securities. Issuers, holders, and transfer agents that deliver in good faith are protected from later claims and are indemnified by the state. Holders may delay delivery of securities that are not freely transferable but must review that status each year.
Default three-year rule and sale proceeds timing
For property without a specific rule, it becomes unclaimed at the earlier of 3 years after you can demand it, or 3 years after the duty to pay starts. Extra money from selling abandoned vehicles and from certain property sales follows the timing set in other state laws.
Unclaimed mineral proceeds after three years
Mineral proceeds are treated as abandoned if not claimed more than 3 years after they become payable. At that time, the owner’s right to those proceeds is also deemed abandoned, and future proceeds are treated as abandoned too.
Sponsors & Cosponsors
Sponsor
Lawrence R. Klemin
Republican • House
Cosponsors
David Hogue
Republican • Senate
Roll Call Votes
Senate vote • 3/21/2025
Second reading, passed, yeas 44 nays 0, Emergency clause carried
Yes: 44 • No: 0
House vote • 1/28/2025
Second reading, passed, yeas 92 nays 0, Emergency clause carried
Yes: 92 • No: 0
Actions Timeline
Filed with Secretary Of State 03/31
4/2/2025HouseSigned by Governor 03/27
4/1/2025HouseSent to Governor
3/26/2025HouseSigned by Speaker
3/26/2025HouseSigned by President
3/25/2025SenateReturned to House
3/24/2025HouseSecond reading, passed, yeas 44 nays 0, Emergency clause carried
3/21/2025SenateReported back, do pass, place on calendar 5 0 0
3/20/2025SenateCommittee Hearing 09:30
3/17/2025SenateIntroduced, first reading, (emergency), referred Industry and Business Committee
2/13/2025SenateReceived from House
1/29/2025SenateSecond reading, passed, yeas 92 nays 0, Emergency clause carried
1/28/2025HouseAmendment adopted, placed on calendar
1/27/2025HouseReported back amended, do pass, amendment placed on calendar 14 0 0
1/24/2025HouseCommittee Hearing 02:00
1/15/2025HouseCommittee Hearing 08:30
1/15/2025HouseIntroduced, first reading, (emergency), referred Industry, Business and Labor Committee
1/7/2025House
Bill Text
Adopted by the House Industry, Business and Labor Committee
Enrollment
FIRST ENGROSSMENT
INTRODUCED
Related Bills
HB 1022 — AN ACT to provide an appropriation for defraying the expenses of the retirement and investment office.
SB 2018 — AN ACT to provide an appropriation for defraying the expenses of the department of commerce; to provide an appropriation to the attorney general; to provide an appropriation to the department of career and technical education; to provide an appropriation to the state fair association; to provide a contingent appropriation; to create and enact a new section to chapter 54-60 of the North Dakota Century Code, relating to department of commerce grant reporting requirements; to amend and reenact subsection 1 of section 10-30.5-02, sections 54-60-09, 54-60-19, 54-60-28, 54-60-29, 54-60-29.1, and 54-60-31 of the North Dakota Century Code, relating to the purpose of the North Dakota development fund, duties and talent strategy of the division of workforce development, the uncrewed aircraft systems program, the uncrewed aircraft systems program fund, the beyond visual line of sight uncrewed aircraft system program, and changing the name of the office of legal immigration to the global talent office; to authorize a Bank of North Dakota line of credit; to provide for a transfer; to provide an application; to provide an exemption; and to provide for a legislative management report.
SB 2323 — AN ACT to amend and reenact sections 57-51-15 and 57-51.1-07.5 of the North Dakota Century Code, relating to oil and gas gross production tax allocations and the state share of oil and gas tax allocations; to provide for a legislative management report; to provide an exemption; and to provide an effective date.
SB 2390 — AN ACT to create and enact three new sections to chapter 54-40.1 of the North Dakota Century Code, relating to a rural catalyst committee, grant program, and fund; to amend and reenact section 54-40.1-02 of the North Dakota Century Code, relating to definitions for regional planning councils; to provide an appropriation; and to provide for a transfer.
SB 2397 — AN ACT to create and enact a new subsection to section 57-51.1-03 of the North Dakota Century Code, relating to a limited exemption for development incentive wells; to amend and reenact sections 57-51-02.6, 57-51-05, and 57-51.1-01 of the North Dakota Century Code, relating to the temporary exemption for oil and gas wells employing a system to avoid flaring, an exemption from gross production tax for gas produced from certain enhanced oil recovery projects, and the definition of development incentive well; to provide an effective date; and to provide an expiration date.
SB 2370 — AN ACT to provide for a legislative management study regarding prescription drug transparency reporting under the federal drug discount program.