Unclaimed Property Reporting Booklet - Washington State Digital ...

(5) If a holder fails after June 30, 1983, to maintain therecords required by RCW 63. 29. 310 and the recordsof the holder available for the periods subject to thischapter are insufficient to permit the preparation of areport, the department may require the holder to reportand pay such amounts as may reasonably be estimatedfrom any available records.[1983 c 179 § 30. ]RCW 63. 29. 310Retention of records.(1) Every holder required to file a report under RCW63. 29. 170, as to any property for which it has obtainedthe last known address of the owner, shall maintain arecord of the name and last known address of the ownerfor six years after the property becomes reportable,except to the extent that a shorter time is providedin subsection (2) of this section or by rule of thedepartment.(2) Any business association that sells in this state itstravelers checks, money orders, or other similar writteninstruments, other than third-party bank checks on whichthe business association is directly liable, or that providessuch instruments to others for sale in this state, shallmaintain a record of those instruments while they remainoutstanding, indicating the state and date of issue forthree years after the date the property is reportable.[1983 c 179 § 31. ]RCW 63. 29. 320Enforcement.The department may bring an action in a courtof competent jurisdiction to enforce this chapter.[1983 c 179 § 32. ]RCW 63. 29. 330Interstate agreements and cooperation — Joint andreciprocal actions with other states.(1) The department may enter into agreements withother states to exchange information needed to enablethis or another state to audit or otherwise determineunclaimed property that it or another state may beentitled to subject to a claim of custody. The departmentby rule may require the reporting of information neededto enable compliance with agreements made pursuant tothis section and prescribe the form.(2) To avoid conflicts between the department’sprocedures and the procedures of administrators inother jurisdictions that enact the Uniform UnclaimedProperty Act, the department, so far as is consistentwith the purposes, policies, and provisions of this chapter,before adopting, amending or repealing rules, shall adviseand consult with administrators in other jurisdictions thatenact substantially the Uniform Unclaimed Property Actand take into consideration the rules of administratorsin other jurisdictions that enact the Uniform UnclaimedProperty Act.(3) The department may join with other states to seekenforcement of this chapter against any person who is ormay be holding property reportable under this chapter.(4) At the request of another state, the attorneygeneral of this state may bring an action in the nameof the administrator of the other state in any courtof competent jurisdiction to enforce the unclaimedproperty laws of the other state against a holder inthis state of property subject to escheat or a claim ofabandonment by the other state, if the other state hasagreed to pay expenses incurred by the attorney generalin bringing the action.(5) The department may request that the attorneygeneral of another state or any other person bring anaction in the name of the department in the other state.This state shall pay all expenses including attorney’s feesin any action under this subsection. The department mayagree to pay the person bringing the action attorney’sfees based in whole or in part on a percentage of thevalue of any property recovered in the action. Anyexpenses paid pursuant to this subsection may not bededucted from the amount that is subject to the claimby the owner under this chapter.[1983 c 179 § 33. ]RCW 63. 29. 340Interest and penalties.(1) A person who fails to pay or deliver property withinthe time prescribed by this chapter shall be required topay to the department interest at the rate as computedunder RCW 82. 32. 050(2) from the date the propertyshould have been paid or delivered until the propertyis paid or delivered, unless the department finds thatthe failure to pay or deliver the property within thetime prescribed by this chapter was the result ofcircumstances beyond the person’s control sufficient forwaiver or cancellation of interest under RCW 82. 32. 105.(2) A person who willfully fails to render any report,to pay or deliver property, or to perform other dutiesrequired under this chapter shall pay a civil penalty ofone hundred dollars for each day the report is withheldor the duty is not performed, but not more than fivethousand dollars, plus one hundred percent of the valueof the property which should have been reported, paidor delivered.(3) A person who willfully refuses after written demandby the department to pay or deliver property to thedepartment as required under this chapter or whoenters into a contract to avoid the duties of this chapteris guilty of a gross misdemeanor and upon convictionmay be punished by a fine of not more than onethousand dollars or imprisonment for not more thanone year, or both.[1996 c 149 § 11; 1996 c 45 § 4; 1983 c 179 § 34. ]Notes: Reviser’s note: This section was amended by 1996c 45 § 4 and by 1996 c 149 § 11, each without referenceto the other. Both amendments are incorporated in thepublication of this section under RCW 1. 12. 025(2). Forrule of construction, see RCW 1. 12. 025(1).Findings — Intent — Effective date — 1996 c 149: Seenotes following RCW 82. 32. 050.Unclaimed Property Reporting Booklet 41