Connecticut SB 488: AN ACT CONCERNING NONELDERLY RESIDENTS OF SENIOR HOUSING.

Bill Text

Substitute Senate Bill No. 488

Public Act No. 26-94

AN ACT IMPLEMENTING THE TREASURER'S
RECOMMENDATIONS FOR REVISIONS TO THE UNCLAIMED
PROPERTY PROGRAM AND SECOND INJURY FUND.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

Section 1. Section 3-56a of the 2026 supplement to the general statutes
is repealed and the following is substituted in lieu thereof (Effective July
1, 2026):
As used in this part, unless the context otherwise requires:
(1) "Apparent owner" means the person whose name appears on the
records of the holder as the person entitled to the property held, issued
or owing by the holder, except for purposes of subdivision (8) of this
section, "apparent owner" includes an agent or other representative of
the apparent owner, but excludes the holder acting as the apparent
owner's agent;
(2) "Banking organization" means any state bank and trust company,
national banking association or savings bank engaged in business in this
state;
(3) "Business association" means a corporation, joint stock company,
partnership, unincorporated association, joint venture, limited liability

Substitute Senate Bill No. 488

Public Act No. 26-94 2 of 21

company, business trust, trust company, safe deposit company,
financial organization, insurance company, person engaged in the
business of operating or controlling a mutual fund, utility or other
business entity consisting of one or more persons, whether or not for
profit;
(4) "Financial organization" means any savings and loan association,
credit union or investment company;
(5) "Funeral service contract" has the same meaning as provided in
section 42-200;
(6) "Gift certificate" means a record evidencing a promise, made for
consideration, by the seller or issuer of the record that goods or services
will be provided to the owner of the record to the value shown in the
record and includes, but is not limited to, a record that contains a
microprocessor chip, magnetic stripe or other means for the storage of
information that is prefunded and for which the value is decremented
upon each use, a gift card, an electronic gift card, stored-value card or
certificate, a store card, or a similar record or card, but "gift certificate"
does not include prepaid calling cards regulated under section 42-370,
prepaid commercial mobile radio services, as defined in 47 CFR 20.3 or
general-use prepaid cards, as defined in section 42-460a;
(7) "Holder" means any person in possession of property subject to
this part which belongs to another, or who is trustee in case of a trust, or
who is indebted to another on an obligation subject to this part;
(8) "Indicated an interest" includes, in addition to other means set
forth in this chapter, the following actions: (A) A record communicated
by the apparent owner to the holder or an agent of the holder concerning
the property or the account in which the property is held, (B) an oral
communication by the apparent owner to the holder or agent of the
holder concerning the property or the account in which the property is

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held, where such holder or agent contemporaneously makes and
preserves a record of such communication, (C) presentment of a check
or other instrument of payment of a dividend, interest payment or other
distribution by the apparent owner, (D) activity directed by an apparent
owner in the account in which the property is held, including, but not
limited to, accessing the account or information concerning the account,
or a direction by the apparent owner to increase, decrease or otherwise
change the amount or type of property held in the account, (E) activity
directed by an apparent owner in any other account at a business
association, banking organization or financial organization that is the
holder or an agent of the holder of the account in which the property is
held by the apparent owner, including, but not limited to, (i) a deposit
into or withdrawal from such other account, except for an automatic
deposit or withdrawal previously authorized by the apparent owner or
an automatic reinvestment of dividends or interest, (ii) presentment of
a passbook or other similar evidence of a deposit into such other account
for the crediting of interest, or (iii) making a payment to such business
association, banking organization or financial organization for the
principal or interest due on a loan made by such business association,
banking organization or financial organization to the apparent owner,
and (F) any other action by the apparent owner that reasonably
demonstrates to the holder that the apparent owner knows the property
exists. "Indicated an interest" excludes any communication of an
apparent owner with a person other than the holder or the holder's
representative unless a record of the communication evidences the
apparent owner's knowledge of a right to the property;
[(8)] (9) "Insurance company" means an association, corporation or