H-4003.1 _______________________________________________
HOUSE BILL 2841
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State of Washington 52nd Legislature 1992 Regular Session
By Representatives Mitchell, Appelwick, Wood, Winsley, Broback, Paris, Miller, Brough, Forner and Haugen
Read first time 01/29/92. Referred to Committee on Local Government.
AN ACT Relating to application of the uniform unclaimed property act to personal effects; and amending RCW 63.29.020.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 63.29.020 and 1988 c 226 s 2 are each amended to read as follows:
(1) Except as otherwise provided by this chapter, all intangible property, including any income or increment derived therefrom, less any lawful charges, that is held, issued, or owing in the ordinary course of the holder's business and has remained unclaimed by the owner for more than five years after it became payable or distributable is presumed abandoned.
(2) Property, with the exception of unredeemed Washington state lottery tickets and unpresented winning parimutuel tickets, is payable and distributable for the purpose of this chapter notwithstanding the owner's failure to make demand or to present any instrument or document required to receive payment.
(3) This chapter does not apply to claims drafts issued by insurance companies representing offers to settle claims unliquidated in amount or settled by subsequent drafts or other means.
(4) This chapter does not apply to property covered by chapter 63.26 RCW.
(5) This chapter does not apply to used clothing, umbrellas, bags, luggage, or other used personal effects if such property is disposed of by the holder as follows:
(a) In the case of personal effects of negligible value, the property is destroyed; or