North DakotaHB 11492025 Regular SessionHouse

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)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

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

Unclaimed sale proceeds enter state recovery

Extra money from abandoned-vehicle sales enters North Dakota's unclaimed-property process after the waiting period in the vehicle-sale law. Extra money from public or private property sales under chapter 57-28 enters after that law's waiting period. People entitled to these proceeds can seek the money through the state's unclaimed-property process.

Businesses must keep older unclaimed-property records

Holders of unclaimed property must preserve relevant records once they receive notice authorizing participation in North Dakota's voluntary disclosure program. They must keep those records until the authorized disclosure ends. The records must reach back ten years plus the required period before property counts as abandoned. This duty applies to holders, not property owners.

Unclaimed virtual currency becomes cash

North Dakota treats virtual currency as abandoned three years after the owner's last sign of interest. Owners can seek recovery through the state's unclaimed-property process. Businesses holding the currency must sell it within the 30 days before filing their report and send North Dakota the proceeds. Owners cannot recover later increases in the currency's value from the business or the state.

Sponsors & Cosponsors

Sponsor

  • Lawrence R. Klemin

    Republican • House

Cosponsors

  • David Hogue

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 136 • No: 0

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

  1. Filed with Secretary Of State 03/31

    4/2/2025House
  2. Signed by Governor 03/27

    4/1/2025House
  3. Sent to Governor

    3/26/2025House
  4. Signed by Speaker

    3/26/2025House
  5. Signed by President

    3/25/2025Senate
  6. Returned to House

    3/24/2025House
  7. Second reading, passed, yeas 44 nays 0, Emergency clause carried

    3/21/2025Senate
  8. Reported back, do pass, place on calendar 5 0 0

    3/20/2025Senate
  9. Committee Hearing 09:30

    3/17/2025Senate
  10. Introduced, first reading, (emergency), referred Industry and Business Committee

    2/13/2025Senate
  11. Received from House

    1/29/2025Senate
  12. Second reading, passed, yeas 92 nays 0, Emergency clause carried

    1/28/2025House
  13. Amendment adopted, placed on calendar

    1/27/2025House
  14. Reported back amended, do pass, amendment placed on calendar 14 0 0

    1/24/2025House
  15. Committee Hearing 02:00

    1/15/2025House
  16. Committee Hearing 08:30

    1/15/2025House
  17. Introduced, 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

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