HOUSE DOCKET, NO. 833        FILED ON: 1/13/2025

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No.         

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Steven Ultrino

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to unclaimed property.

_______________

PETITION OF:

HOUSE DOCKET, NO. 833        FILED ON: 1/13/2025

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No.         

The Commonwealth of Massachusetts

_______________

In the One Hundred and Ninety-Fourth General Court
(2025-2026)

_______________

An Act relative to unclaimed property.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Section 108 of chapter 156B of the General Laws as appearing in the 2022 Official Edition is hereby amended by inserting after the second sentence the following sentence:- The state secretary shall not require fees for the revival of such corporation if it relates to a person or beneficiary claiming an interest in property surrendered to the state treasurer pursuant to section 10 of chapter 200A. 

SECTION 2. Section 10 of chapter 200A of the General Laws as so appearing is hereby amended by adding the following subsection:-

(j)(i) If a person or beneficiary claims an interest in property surrendered to the state treasurer that is held by a terminated corporation, the state treasurer may certify that the terminated corporation may be revived for the sole purpose of the person or beneficiary to collect property held by the terminated corporation valued at $2,000 or less;

(ii) The state treasurer shall provide the person or beneficiary the certificate of revival of the terminated corporation for the purpose of collecting property of $2,000 or less; and

(iii) The person or beneficiary shall submit the certificate of revival to the state secretary and the state secretary shall waive the fee required in section 108 of chapter 156B for the revival of a terminated corporation for property valued at $2,000 or less.