H.B. 519
Signed into LawUnclaimed Property Modifications
HB0519S01 (Substitute)
Unclaimed Property Modifications
Introduction
Feb 9
House Rules
House Committee
Feb 17
House Floor Vote
Feb 19
Senate Rules
Feb 19
Senate Committee
Feb 25
Senate 2nd Reading
Feb 25
Senate 3rd Reading
Mar 2
House Concurrence
Mar 3
Governor Signed
Mar 18
What This Bill Does
This bill modifies the Revised Uniform Unclaimed Property Act.
Key Provisions
This bill:
- defines terms;
- establishes standards for the unclaimed property administrator's (administrator's) custody of digital assets presumed abandoned, including requirements for:
- the presumption of abandonment for digital assets;
- the delivery of abandoned digital assets to the administrator's custody;
- the sale or liquidation of abandoned digital assets by the holder at the direction of the administrator;
- the maintenance of abandoned digital assets by the holder if delivery is not possible; and
- the sale or liquidation of abandoned digital assets by the administrator; and
- makes technical and conforming changes.
Plain-Language Summary
AI-generated summary. We recommend consulting the bill text for important decisions.
Utah's unclaimed property law — which governs what happens to forgotten bank accounts, stocks, and other assets when owners can't be located — currently doesn't have clear rules for digital assets like cryptocurrency. This bill updates that law by defining digital assets (including cryptocurrency, stablecoins, and non-fungible tokens), establishing that a digital asset is presumed abandoned three years after the owner's last activity, and setting out procedures for how companies holding those assets must report, transfer, or liquidate them on behalf of the state. If a company holding digital assets can transfer them, it must deliver them to a state-designated custodian within 30 days of filing a report; if it cannot transfer them, it must hold and monitor the assets until it can. Utahns who hold cryptocurrency or other digital assets through a platform and go inactive for three years could have those assets transferred to state custody or liquidated, though they retain the right to file a claim to recover the proceeds.
H.B. 519
Signed into LawUnclaimed Property Modifications
Current version: HB0519S01 (Substitute)
Introduction
Feb 9
House Rules
House Committee
Feb 17
House Floor Vote
Feb 19
Senate Rules
Feb 19
Senate Committee
Feb 25
Senate 2nd Reading
Feb 25
Senate 3rd Reading
Mar 2
House Concurrence
Mar 3
Governor Signed
Mar 18
IntroductionFeb 9
House Rules
House CommitteeFeb 17
House Floor VoteFeb 19
Senate RulesFeb 19
Senate CommitteeFeb 25
Senate 2nd ReadingFeb 25
Senate 3rd ReadingMar 2
House ConcurrenceMar 3
Governor SignedMar 18
What This Bill Does
This bill modifies the Revised Uniform Unclaimed Property Act.
Key Provisions
This bill:
- defines terms;
- establishes standards for the unclaimed property administrator's (administrator's) custody of digital assets presumed abandoned, including requirements for:
- the presumption of abandonment for digital assets;
- the delivery of abandoned digital assets to the administrator's custody;
- the sale or liquidation of abandoned digital assets by the holder at the direction of the administrator;
- the maintenance of abandoned digital assets by the holder if delivery is not possible; and
- the sale or liquidation of abandoned digital assets by the administrator; and
- makes technical and conforming changes.
Plain-Language Summary
AI-generated summary. We recommend consulting the bill text for important decisions.
Utah's unclaimed property law — which governs what happens to forgotten bank accounts, stocks, and other assets when owners can't be located — currently doesn't have clear rules for digital assets like cryptocurrency. This bill updates that law by defining digital assets (including cryptocurrency, stablecoins, and non-fungible tokens), establishing that a digital asset is presumed abandoned three years after the owner's last activity, and setting out procedures for how companies holding those assets must report, transfer, or liquidate them on behalf of the state. If a company holding digital assets can transfer them, it must deliver them to a state-designated custodian within 30 days of filing a report; if it cannot transfer them, it must hold and monitor the assets until it can. Utahns who hold cryptocurrency or other digital assets through a platform and go inactive for three years could have those assets transferred to state custody or liquidated, though they retain the right to file a claim to recover the proceeds.
Votes
Motion: Favorable Recommendation
Motion: Favorable Recommendation
Documents
Floor Debates
Committee Hearings
Other Versions
Subjects
Action History49
Governor Signed
Lieutenant Governor's office for filing
House/ to Governor
Executive Branch - Governor
House/ received enrolled bill from Printing
Clerk of the House
House/ enrolled bill to Printing
Clerk of the House
Enrolled Bill Returned to House or Senate
Clerk of the House
Last updated Mar 26, 2026, 9:42 PM
