470.270. Money or effects involved in litigation--disposition--unclaimed property, state may bring action to recover, when, exceptions.
Money or effects involved in litigation--disposition--unclaimedproperty, state may bring action to recover, when, exceptions.
470.270. After the owner, his or her assignee, personalrepresentative, grantee, heirs, devisees or other successors, entitled toany moneys, refund of rates or premiums or effects by reason of anylitigation concerning rates, refunds, refund of premiums, fares or chargescollected by any person or corporation in the state of Missouri for anyservice rendered or to be rendered in said state, or for any contract ofinsurance on property in this state, or under any contract of insuranceperformed or to be performed in said state, which moneys, refund of ratesor premiums or effects have been paid into or deposited in connection withany cause in any court of the state of Missouri or in connection with anycause in any United States court, or so paid into the custody of anydepositary, clerk, custodian, or other officer of such court, whether thesame be afterwards transferred and deposited in the United States treasuryor not, shall be and remain unknown, or the whereabouts of such person orpersons shall be and has been unknown, for the period heretofore, orhereafter, of five successive years, or such moneys, refund of rates orpremiums or effects remain unclaimed for the period heretofore, orhereafter, of five successive years, from the time such moneys or propertyare ordered repaid or distributed by such courts, such moneys or propertyshall be escheatable to the state of Missouri, and may be escheated to thestate of Missouri in the manner herein provided, with all interest andearnings actually accrued thereon to the date of the judgment and decreefor the escheat of the same; except that all refunds of rates generated bythe refund of natural gas or electric rates shall be transferred to theutilicare stabilization fund created pursuant to section 660.136, RSMo,with the exception of lawsuits in which the state of Missouri is a party,if the moneys that result from a refund of rates remains unclaimed afterfive years from the date when such rates are ordered repaid, with allinterest from such refunded rates that is earned from the date such ratesare ordered repaid to escheat to the state as otherwise provided insections 470.270 to 470.350**. The provisions of this sectionnotwithstanding, this state may elect to take custody of such unclaimedproperty by instituting a proceeding pursuant to section 447.575, RSMo.
(L. 1945 p. 915 § 1, A.L. 1947 V. I p. 297, A.L. 1990 H.B. 1052, A.L. 2002 S.B. 810)Money or effects involved in litigation--disposition--unclaimedproperty, deemed unclaimed property, when.*This section was amended by both S.B. 810 and S.B. 1248 during the Ninety-first General Assembly, Second Regular Session, 2002. Due to possible conflict, both versions are printed here.
**Sections 470.280 to 470.350 were repealed by S.B. 1248, 2002.
CROSS REFERENCE:
Disposition of excess charges by utilities on stay order of public service commission, RSMo 386.520
470.270. 1. Notwithstanding any other provision of this chapter,after the owner, the owner's assignee, personal representative, grantee,heirs, devisees or other successors, entitled to any moneys, refund ofrates or premiums or effects by reason of any litigation concerning rates,refunds, refund of premiums, fares or charges collected by any person orcorporation in the state of Missouri for any service rendered or to berendered in said state, or for any contract of insurance on property inthis state, or under any contract of insurance performed or to be performedin said state, which moneys, refund of rates or premiums or effects havebeen paid into or deposited in connection with any cause in any court ofthe state of Missouri or in connection with any cause in any United Statescourt, or so paid into the custody of any depositary, clerk, custodian, orother officer of such court, whether the same be afterwards transferred anddeposited in the United States treasury or not, shall be and remainunknown, or the whereabouts of such person or persons shall be and has beenunknown, for the period heretofore, or hereafter, of three successiveyears, or such moneys, refund of rates or premiums or effects remainunclaimed for the period heretofore, or hereafter, of three successiveyears, from the time such moneys or property are ordered repaid ordistributed by such courts, such moneys or property shall be deemedabandoned and transferred to the state of Missouri, with all interest andearnings actually accrued thereon to the date of transfer of the same. Allmoneys or property transferring to the state pursuant to this section shallbe deemed unclaimed property under the uniform disposition of unclaimedproperty act as set forth in chapter 447, RSMo, and shall be treated in thesame manner as all other unclaimed property under such act.
2. In fiscal year 2003, the commissioner of administration shallestimate the amount of any additional state revenue received pursuant tosubsection 3 of section 470.020 and shall transfer an equivalent amount ofgeneral revenue to the schools of the future fund created in section163.005, RSMo.
(L. 1945 p. 915 § 1, A.L. 1947 V. 1 p. 297, A.L. 1990 H.B. 1052, A.L. 2002 S.B. 1248)Effective 6-19-02
*This section was amended by both S.B. 810 and S.B. 1248 during the Ninety-first General Assembly, Second Regular Session, 2002. Due to possible conflict, both versions are printed here.
CROSS REFERENCE:
Disposition of excess charges by utilities on stay order of public service commission, RSMo 386.520