AN ACT Relating to a penalty for excessive fees for locating abandoned property held by a county; adding a new section to chapter 63.30 RCW; and prescribing penalties.

(1) It is unlawful for any person to seek or receive from any person or contract with any person or entity for any fee or compensation for locating or purporting to locate any property held by a county that are proceeds from a foreclosure or distraint sale for delinquent property taxes, assessments, or other liens, or funds that are otherwise held by a county because of a person's failure to claim funds held as reimbursement for unowed taxes, fees, or other government charges, in excess of five percent of the value thereof returned to such owner. Any person or entity violating this section is guilty of a misdemeanor and shall be punished by either a fine of not more than $1,000 or by imprisonment for not more than 90 days, or both.

(2) The legislature finds that the practices covered by this section are matters vitally affecting the public interest for the purpose of applying the consumer protection act, chapter 19.86 RCW. Any violation of this section is not reasonable in relation to the development and preservation of business. It is an unfair or deceptive act in trade or commerce and an unfair method of competition for the purpose of applying the consumer protection act, chapter 19.86 RCW. Remedies provided by chapter 19.86 RCW are cumulative and not exclusive.