H-566                _______________________________________________

                                                    HOUSE BILL NO. 700

                        _______________________________________________

State of Washington                              49th Legislature                              1985 Regular Session

By Representatives Appelwick, Ebersole, Hine and Haugen

Read first time 2/8/85 and referred to Committee on Local Government.

AN ACT Relating to the uniform unclaimed property act; amending RCW 63.29.020 and 63.29.080; and repealing RCW 63.29.150.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

        Sec. 1.  Section 2, chapter 179, Laws of 1983 and RCW 63.29.020 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 others means.

(4) This chapter does not apply to personal property in the possession of county sheriffs or police authorities of any city in connection with the official performance of their duties.

Sec. 2.  Section 8, chapter 179, Laws of 1983 and RCW 63.29.080 are each amended to read as follows:

(1) A deposit, including any interest thereon, made by a subscriber with a utility to secure payment ((or)), any sum paid in advance for utility services to be furnished, less any lawful deductions, or any other credit or sum that remains unclaimed by the owner for more than one year after termination of the services for which the deposit ((or)), advance payment, credit, or sum was made is presumed abandoned.

          (2) Any sum which a utility has been ordered to refund and which was received for utility services rendered in this state, together with any interest thereon, less any lawful deductions, that has remained unclaimed by the person appearing on the records of the utility entitled thereto for more than one year after the date it became payable in accordance with the final determination or order providing for the refund is presumed abandoned.

(3) When property subject to a utility lien is transferred, a credit owed to a ratepayer by the utility for services to the premises shall not be deemed unclaimed if the utility transfers the credit to the new owner or occupant or applies the credit for utility services to the premises.

NEW SECTION. Sec. 3.  Section 15, chapter 179, Laws of 1983 and RCW 63.29.150 are each repealed.