HB/HCS 1525 - Under this act, any person who enters into an agreement to recover or assist in the recovery of unclaimed property for compensation who has not registered with the State Treasurer for such purpose shall be guilty of an infraction for a first offense and a Class A misdemeanor for all subsequent offenses. Furthermore, the Treasurer is permitted to prohibit the registration of any person convicted of violating this provision. Furthermore, current law permits any person claiming an interest in any moneys or property delivered to the state to file a claim for such property on a form prescribed by the Treasurer. This act requires that form to contain the following statement: "Any person who assists in the recovery of property for a fee without being registered with the State Treasurer will be subject to penalties.".
The act permits the Treasurer to review any claim for unclaimed property. The Treasurer is additionally permitted to withhold any claim until he or she is reasonably satisfied that the claim is legitimate and that the person making the claim is aware of the nature and potential value of his or her claim.
This act is substantially similar to the truly agreed to SB 644 (2018), HB 1422 (2018), SCS/SB 470 (2017), and HB 985 (2017).
SCOTT SVAGERA