✔️ HB366
Regards disposal of self-service storage property and liability
Summary
The bill amends sections 5322.03 and 5322.06 of the Revised Code to allow self-service storage facility owners to dispose of property in expired storage spaces and modifies the liability threshold related to such spaces. It requires owners to notify interested parties and outlines the process for disposal, including sale or destruction of unclaimed property. The bill specifies notification methods and timelines for compliance.
Rationale
The bill supports property rights by allowing owners of self-service storage facilities to manage unclaimed property, aligning with Libertarian principles of property ownership and contract freedom. However, it includes regulatory requirements for notification that may be seen as government interference, which slightly lowers the alignment score.
Risks and Concerns
- Potential for increased government regulation on property disposal
- Risk of miscommunication in notification processes leading to disputes