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Can you summarize Chapter 63.29 WARC?
PERSONAL PROPERTY > Uniform unclaimed property act.
Short Summary
The legal documents reviewed pertain to the Uniform Unclaimed Property Act in the state of Washington. They cover a wide range of topics related to abandoned property, including the presumption of abandonment, reporting requirements, payment or delivery of abandoned property, public sale of abandoned property, examination of records, refund or return of property, and other related procedures. The documents apply to various entities, including holders of abandoned property, banking organizations, financial organizations, business associations, utility companies, insurance companies, fiduciaries, courts, state and local governments, and individuals or entities involved in transactions with abandoned property. The documents provide guidelines for the treatment of different types of property, such as bank deposits, stock and ownership interests, wages, insurance policies, fiduciary property, travelers checks, money orders, and other similar instruments. They also establish procedures for filing reports, making payments or deliveries, conducting public sales, examining records, and processing refunds or returns. No specific penalties are mentioned in these documents. Overall, the documents aim to ensure the proper handling and disposition of abandoned property in the state of Washington.
Whom does it apply to?
The documents apply to holders of abandoned property, banking organizations, financial organizations, business associations, utility companies, insurance companies, fiduciaries, courts, state and local governments, and individuals or entities involved in transactions with abandoned property.
What does it govern?
The legal documents cover various aspects of the Uniform Unclaimed Property Act in the state of Washington. They govern the treatment of intangible property, bank deposits, funds in financial organizations, stock and ownership interests, safe deposit boxes, wages, insurance policies, fiduciary property, travelers checks, money orders, and other similar instruments. The documents also address the filing of reports, payment or delivery of abandoned property, public sale of abandoned property, examination of records, refund or return of property, and other related procedures.
What are exemptions?
The documents do not apply to property held, due, and owing in a foreign country and arising out of a foreign transaction. They also do not apply to property held by agents and fiduciaries enrolled in a plan that automatically reinvests dividends, distributions, or other sums.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Washington