Arkansas Unclaimed Property Administrative Rules, 18 CAR pt. 21 (T.J. Fowler, Josh Wood)

The rules provide guidance and definition that is intended to aid all participants in the Unclaimed Property process: Holders (those entities that hold, report, and remit unclaimed property to the state), Owner/Claimant (individuals who own unclaimed property and endeavor to claim it from the state), Finders (professionals who seek out unclaimed property on behalf of owners for a fee), and the Administrator. The Arkansas UCP Act is a uniform statute adopted by a majority of states. Most of the other states have similar administrative rule sets. The Auditor of State has surveyed those rules and endeavored to create a rule set that uses the best portions of those other state’s rules.

A public hearing was held on September 2, 2025. The public comment period closed that same day. The agency provided the following summary of public comments: 1. Tameron Bishop, Attorney, Kutak Rock (representing ARVEST) COMMENT: As currently written, 18 CAR § 1-307(b): • Suggests a holder of safe deposit boxes or similar safekeeping depositories must comply with the requirements listed, including that holders must sell contents at public auction under Arkansas Code § 18-27-102(c)(3). However, holders have the option, and 2 not the obligation, to sell the contents of safe deposit boxes under Arkansas Code § 18-27-102(c)(3). Arkansas Code § 18-28-210 also permits delivery of property to the state to assume custody and responsibility for the safekeeping of the property. We have suggested revised language below to clarify the holder has the option but not obligation to sell the contents. • 18 CAR § 1-307(b)(2)(A) states holders must only remit remaining property “of value” to the Auditor of the State; however, Arkansas Code § 18-27-102(c)(3)(C) requires “any unauctioned contents” must be remitted to the Auditor of the State under Arkansas Code § 18-28-201 et seq. We have suggested revi

• Rule packet: B.2.a APERS Benefits and Acts 2025 No. 370
• ALC summary agenda Oct 16, 2025
• ALC agenda Oct 16, 2025
• ALC meeting video Oct 16, 2025
• Arkansas Register, November 2025