Leawood, KS – August 16, 2021: The State of Louisiana passed, and Governor John Bel Edwards signed into law on June 29, 2021, House Bill 127 (HB 127). This Bill establishes the elements of a criminal offense and provides for criminal penalties for any person who intentionally makes a materially false statement or submits false or altered documentation pursuant to the Uniform Unclaimed Property Act of 1997.
Under newly enacted HB 127, which became effective August 1, 2021, any person found to have violated this section shall be imprisoned for not more than five years, or fined not more than ten thousand dollars, or both. Additionally, a person convicted of violating this Section shall be ordered to make full restitution to the Department of the Treasury to be deposited in the Louisiana Unclaimed Property Permanent Trust Fund.
To read Louisiana HB 127 click here: Louisiana HB 127
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