Amends the language of Section1308 concerning the dormancy period for unclaimed wages. Any money due an employee as defined by subdivision 6, section 2 of the labor law, which shall have remained unclaimed by such employee for a period of one year, are presumed abandoned. Furthermore, all employers shall pay to the state comptroller unclaimed wages when they become presumed abandoned and reportable, not on the First of May as previously required.

United States

(HB 627)

Introduced 4/19/2009, Enacted 5/22/2009, Effective 10/22/2010

Titled, "Credit Card Accountability Responsibility and Disclosure Act of 2009." Within this legislation is a ban on the imposition of a dormancy fee, inactivity charge or fee, or a service fee with respect to a gift certificate, store gift card or general-use prepaid card unless the following is true: 1) the card has a remaining value of $5 or less; 2) such fee does not exceed $1; 3) the card was issued more than 24 months before the date on which the charge is imposed; 4) there has been no activity for 24 months ending on the date the fee is imposed; 5) the holder may reload the certificate and 6) disclosure requirements are met. Also, the bill makes it unlawful for any person to sell a gift card that is subject to an expiration date unless the expiration date is not less than 5 years from the date the card was loaded and the terms of expiration are prominently disclosed.

Ohio

(HB 1)

Introduced 2/12/2009, Enacted 7/17/2009

Claims made to recover unclaimed funds are to be paid from the Trust Fund. Current law also requires the Director to retain in the Trust Fund 5% of the total amount of unclaimed funds payable to a claimant as a fee for administering the funds. The bill eliminates this requirement.