Alabama House Bill HB104

Alabama 2026 Regular Session

• Introduced: 1/13/26
• Refer: 1/13/26
• Report Pass: 1/14/26
• Refer: 1/20/26
• Report Pass: 2/4/26
• Enrolled: 3/17/26
• Passed: 3/26/26

Caption

Uniform Disposition of Unclaimed Property; allow finders to contract and locate State Treasurer property, account for digital assets

Impact

If passed, HB104 will significantly modernize Alabama's approach to unclaimed property by formally recognizing and establishing procedures for digital assets. This aligns state law with the evolving financial landscape where digital currencies and tokens become more prevalent. The legislation will require holders of digital assets to report to the State Treasurer, creating a more structured environment for the management and recovery of unclaimed property, thereby attempting to facilitate clearer ownership tracking and accountability.

Summary

House Bill 104 aims to amend existing laws regarding abandoned property in Alabama by incorporating guidelines for the handling of digital assets. Specifically, the bill grants the State Treasurer the authority to take custody of these assets and enables the liquidation of certain abandoned digital assets. It seeks to provide clarity on the classification of digital assets and the requirements for an enforceable agreement between owners or apparent owners and finders working to recover unclaimed property held by the State Treasurer.

Contention

The introduction of HB104 has not been without its controversies. Concerns have been raised about the implications for privacy and security surrounding digital assets, as well as the potential for costs associated with compliance for businesses dealing with digital currencies and other assets. Critics may argue that the legislation could impose undue burdens on finders and holders in terms of reporting and fiduciary duties, which might affect smaller businesses disproportionately. There are apprehensions regarding how well the law will balance state interests against the rights of property owners, particularly in a rapidly changing digital environment.