N.D. Cent. Code § 47-30.2-68

Current through 2023 Legislative Sessions

Section 47-30.2-68 - (1301) When agreement to locate property enforceable

An agreement by an apparent owner and another person, the primary purpose of which is to locate, deliver, recover, or assist in the location, delivery, or recovery of property held by the administrator, is enforceable only if:

1. The person who entered into the agreement with the apparent owner is in compliance with chapter 43-30; and

2. The agreement:

a. Is in writing;

b. Clearly states the nature of the property and the services to be provided;

c. States the amount of the fee or other compensation to be paid, which may not be in excess of ten percent of the amount recovered;

d. Discloses that, absent the agreement, the property would be delivered to a state-administered unclaimed property program for safekeeping on the owner's behalf and upon delivery, the owner may be able to recover the property from the state-administered program without charge; and

e. Is signed by or on behalf of the apparent owner.

N.D.C.C. § 47-30.2-68

Added by S.L. 2021, ch. 337 (SB 2048),§ 17, eff. 7/1/2021.