SB208

SB208 updates South Dakota's unclaimed property law to align with the Uniform Unclaimed Property Act, which governs how the state handles money and assets that owners have abandoned or lost track of. The bill makes changes to the rules about when property is considered unclaimed, how long businesses must hold it before turning it over to the state, and what the state does with these abandoned funds. These updates modernize the law to match standards adopted by other states and improve how unclaimed property is managed and returned to rightful owners.