Notice of unclaimed funds held by a county treasurer. (FE)

The treasurer must then publish a legal notice in a newspaper or other publication once a week for three consecutive weeks (class 3 notice) containing the names and last-known addresses of the owners of unclaimed money or security with a value of at least $10. If the money or security is not claimed within six months, the treasurer takes possession of the money or security and deposits it in the county's general fund.

If the money is not claimed within ten years, the money or property becomes the property of the county.

Also under current law, in every odd-numbered year, the circuit court clerk must provide a report to the county treasurer listing all money, securities, or funds in the clerk's possession for which no proceedings in the case have occurred for four or more years. One year after providing the report, the clerk must then turn over any remaining unclaimed funds to the county treasurer. After receiving the funds, the treasurer must publish a class 3 notice of the fact that he or she is in possession of the unclaimed funds. If no legal claim is made within 90 days of the last publication, the treasurer deposits the money in the county's general fund.

Under this bill, in either of the situations described above, the county treasurer must provide a legal notice containing the names and last-known addresses of the owners of unclaimed money or securities with a value of at least $20. In each situation, the treasurer may provide this notice by either: 1) providing a class 3 notice containing the names and last-known addresses of the owners of unclaimed money or securities with a value of at least $20; or 2) providing a single legal notice (class 1 notice) containing the names and last-known addresses of the owners of unclaimed money or security with a value of at least $20 followed by a legal notice for two consecutive weeks (class 2 notice) that a list of names and last-known addresses of the owners of unclaimed money or security that has a value of at least $20 is available on the county's Internet site and at the treasurer's office.