Louisiana § RS 9:160.2 - Payment or delivery of abandoned digital asset; after receipt of report required by R.S. 9:159

§ RS 9:160.2. Payment or delivery of abandoned digital asset; after receipt of report required by R.S. 9:159

            A.(1) If property reported to the administrator is a digital asset, and the digital asset holder has the ability to transfer the digital asset, the digital asset holder shall transfer that digital asset, or the control necessary to transfer that digital asset, to the administrator within thirty days from the date on which that digital asset is reported.

            (2) A digital asset holder who delivers a digital asset pursuant to Paragraph (1) of this Subsection shall provide the administrator, upon request, with a record evidencing delivery to the administrator's designated custodian.

            (3) Within thirty days after the date on which the digital asset holder delivers a digital asset pursuant to Paragraph (1) of this Subsection, the digital asset holder shall provide the administrator with a reconciliation of the delivered digital asset with respect to the report filed regarding the digital asset.

            B. Notwithstanding Paragraph (A)(1) of this Section, if the administrator determines a reported digital asset cannot be accepted due to any factor or factors in R.S. 9:160.4, it may direct or order the digital asset holder to sell or otherwise liquidate the digital asset and deliver the net proceeds to the administrator.

            C. A digital asset holder is not required to deliver a digital asset in accordance with Paragraph (A)(1) of this Section if the digital asset holder does not have the private key or other authority that is necessary to transfer the digital asset. Instead, the digital asset holder described in this Paragraph shall do all the following:

            (1) Report the digital asset in accordance with R.S. 9:159.

            (2) Maintain the digital asset until the digital asset holder obtains the ability to transfer the digital asset.

            (3) Determine no less than annually as to whether the digital asset holder has obtained the ability to transfer the digital asset.

            (4) After obtaining the ability to transfer the digital asset, deliver the digital asset to the administrator at the next reporting cycle.

            D. Between receipt of a digital asset in its native form and when R.S. 9:160.3(A) is applicable, no digital asset delivered to the administrator in its native form shall be liquidated except when either of the following occurs:

            (1) A request is received by a claimant pursuant to R.S. 9:160.3(B).

            (2)(a) The digital asset cannot reasonably be maintained in custody by the administrator due to technological, security, or regulatory limitations.

            (b) The cost of custody, administration, or security of the digital asset exceeds the value of the digital asset.

            Acts 1986, No. 829, §1, eff. July 10, 1986; Acts 1997, No. 809, §1, eff. July 10, 1997; Acts 2026, No. 891, §1, eff. Jan. 1, 2027.