SB 5316 — Modifying provisions of the revised uniform unclaimed property act.

(11) Wages, commissions, or bonuses((, or reimbursements)) to which an employee is entitled, or other compensation for personal services, one year after the amount becomes payable;

10 SSBSB 5316 (12)(10) AProperty depositheld by a government or refundgovernmental owedsubdivision, toagency, aor subscriberinstrumentality, byincluding municipal bond interest and unredeemed principal under the administration of a utility,paying agent or indenture trustee, one year after the depositproperty or refund becomes payable;distributable;

(11) Wages, commissions, or bonuses((, or reimbursements)) to which an employee is entitled, or other compensation for personal services, one year after the amount becomes payable;

(12) A deposit or refund owed to a subscriber by a utility, one year after the deposit or refund becomes payable;

and((and)) (17) PropertyA notgift specifiedcertificate inissued thiswith sectionan orexpiration RCWdate, 63.30.050 through 63.30.100, the earlier of three years after the owneramount firstbecomes haspayable a right to demand the property or thedistributable; obligation to pay or distribute the property arises.

and (18) Property not specified in this section or RCW 63.30.050 through 63.30.100, the earlier of three years after the owner first has a right to demand the property or the obligation to pay or distribute the property arises.

or (ii) If the second communication is sent later than 30 days after the date the first communication is returned undelivered, the date thep. first communication was returned undelivered by the United States postal service;

11 SB 5316 the first communication was returned undelivered by the United States postal service;

or p.(ii) ((If the internal revenue code, as it existed on January 1, 2023, 26 U.S.C.

11 SSB 5316 (ii) ((If the internal revenue code, as it existed on January 1, 2023, 26 U.S.C.

(a)p. Except as in (b) of this subsection, the date a second consecutive communication to contact the apparent owner sent by first-class United States mail is returned to the holder undelivered;

12 SB 5316 (a) Except as in (b) of this subsection, the date a second consecutive communication to contact the apparent owner sent by first-class United States mail is returned to the holder undelivered;

p.(5) This section does not apply to property held in a pension account or retirement account established by the state of Washington or any local governmental entity under chapter 41.28 RCW.

12 SSB 5316 (5) This section does not apply to property held in a pension account or retirement account established by the state of Washington or any local governmental entity under chapter 41.28 RCW.

RCW 63.30.120 and 2022 c 225 s 209 are each amended to read as follows:

(1) The period after which property is presumed abandoned is measured from the later of:

(a) The date the property is presumed abandoned under this section and RCW 63.30.040 through 63.30.110, 63.30.130, and 63.30.140;

or (b) The latest indication of interest by the apparent owner in the property.

(2) Under this chapter, an indication of an apparent owner's interest in property includes:

(a) A record communicated by the apparent owner to the holder or agent of the holder concerning the property or the account in which the property is held;

(b) An oral communication by the apparent owner to the holder or agent of the holder concerning the property or the account in which the property is held, if the holder or its agent contemporaneously makes and preserves a record of the fact of the apparent owner's communication;

(c) Presentment of a check or other instrument of payment of a dividend, interest payment, or other distribution, or evidence of receipt of a distribution made by electronic or similar means, with p.

13 SSB 5316 respect to an account, underlying security, or interest in a business association;

(d) ((Activity)) Either activity directed by an apparent owner in the account in which the property is held, or in another account of the apparent owner held by the same business association or financial organization, or both, including accessing the account or information concerning the account, or a direction by the apparent owner to increase, decrease, or otherwise change the amount or type of property held in the account;

(e) A deposit into or withdrawal from an account at a financial organization, including an automatic deposit or withdrawal previously authorized by the apparent owner other than an automatic reinvestment of dividends or interest;

(f) Subject to subsection (5) of this section, payment of a premium on an insurance policy;

and (g) Any other action by the apparent owner which reasonably demonstrates to the holder that the apparent owner knows that the property exists.

(3) An action by an agent or other representative of an apparent owner, other than the holder acting as the apparent owner's agent, is presumed to be an action on behalf of the apparent owner.

(4) A communication with an apparent owner by a person other than the holder or the holder's representative is not an indication of interest in the property by the apparent owner unless a record of the communication evidences the apparent owner's knowledge of a right to the property.

(5) If the insured dies or the insured or beneficiary of an insurance policy otherwise becomes entitled to the proceeds before depletion of the cash surrender value of the policy by operation of an automatic premium loan provision or other nonforfeiture provision contained in the policy, the operation does not prevent the policy from maturing or terminating.

Sec.

8.

(b) If filed electronically, be in a secure format approved by the administrator which protects confidential information of the p.apparent owner in the same manner as required of the administrator and the administrator's agent under RCW 63.30.810 through 63.30.880;

14 SSB 5316 apparent owner in the same manner as required of the administrator and the administrator's agent under RCW 63.30.810 through 63.30.880;

(e)p. For an amount held or owing under a life or endowment insurance policy or annuity contract, contain the name and last known address of the insured, annuitant, or other apparent owner of the policy or contract and of the beneficiary;

13 SB 5316 (e) For an amount held or owing under a life or endowment insurance policy or annuity contract, contain the name and last known address of the insured, annuitant, or other apparent owner of the policy or contract and of the beneficiary;

p.Sec.

158. SSB 5316 Sec.

9.

(2)p. Subject to subsection (3) of this section, the report under RCW 63.30.220 to be filed by an insurance company must be filed and paid on or before ((May 1st)) April 30th of each year for the immediately preceding calendar year.

14 SB 5316 (2) Subject to subsection (3) of this section, the report under RCW 63.30.220 to be filed by an insurance company must be filed and paid on or before ((May 1st)) April 30th of each year for the immediately preceding calendar year.

10.9.

p.Sec.

1610. SSB 5316 Sec.

11.

(a)p. Except as otherwise provided in (b) of this subsection, send written notice by first-class United States mail to each apparent owner of property valued at (($75)) $50 or more held by the administrator, unless the administrator determines that a mailing by first-class United States mail would not be received by the apparent owner, and, in the case of a security held in an account for which the apparent owner had consented to receiving email from the holder, send notice by email if the email address of the apparent owner is known to the administrator instead of by first-class United States mail;

15 SB 5316 (a) Except as otherwise provided in (b) of this subsection, send written notice by first-class United States mail to each apparent owner of property valued at (($75)) $50 or more held by the administrator, unless the administrator determines that a mailing by first-class United States mail would not be received by the apparent owner, and, in the case of a security held in an account for which the apparent owner had consented to receiving email from the holder, send notice by email if the email address of the apparent owner is known to the administrator instead of by first-class United States mail;

and p.(b) Maintain a website or database accessible by the public and electronically searchable which contains the names reported to the administrator of all apparent owners for whom property is being held by the administrator.

17(4) SSBThe 5316 (b) Maintain a website or database accessiblemaintained byunder thesubsection public(3)(b) andof electronicallythis searchablesection whichmust containsinclude theinstructions names reported to the administrator of all apparent owners for whomfiling propertywith is being held by the administrator.p.

(4)16 TheSB website5316 or database maintained under subsection (3)(b) of this section must include instructions for filing with the administrator a claim to property and a printable claim form with instructions for its use.

12.11.

A deduction of $10 a year for maintaining property valued at $50 or less, or $20 per year for maintaining property valued at more than $50, or other amounts established by the administrator by rule, is not unconscionable.

However, if permitted under subsection (1) of this section, a higher charge may be appropriate considering all relevant factors.

13.12.

Holders who are required to file a report electronically under this chapter must remit payments under this section by electronic funds transfer p.

1817 SSBSB 5316 must remit payments under this section by electronic funds transfer or other form of electronic payment acceptable to the administrator.

(3) ((Tangible))((Tangible If the property in the report is tangible property held in a safe deposit box ((maymay not be delivered to)),to the administrator ((untiluntil 180 days after filing the report under RCW 63.30.220))63.30.220. must provide delivery instructions to the holder.

(4)(4))) If property reported to the administrator under RCW 63.30.220 is a security, the administrator may:

(5)(((5))) (4) If the holder of that property reported to the administrator under RCW 63.30.220 is the issuer of a certificated security, the administrator may obtain a replacement certificate in physical or book-entry form under RCW 62A.8-405.

(6)(((6))) (5) The administrator ((shall)) must establish procedures for the registration, issuance, method of delivery, transfer, and maintenance of securities delivered to the administrator by a holder.

(((7))) (6) An issuer, holder, and transfer agent or other person acting under this section under instructions of and on behalf of the issuer or holder is not liable to the apparent owner for, and must be p.

1918 SSBSB 5316 (7) An issuer, holder, and transfer agent or other person acting under this section under instructions of and on behalf of the issuer or holder is not liable to the apparent owner for, and must be indemnified by the state against, a claim arising with respect to property after the property has been delivered to the administrator.

(8)(((8))) (7) A holder is not required to deliver to the administrator a security identified by the holder as a nonfreely transferable security.

(9)(8) If the property reported to the administrator is virtual currency, the holder must liquidate the virtual currency within 30 days before filing the report under RCW 63.30.220.

14.13.

(3) If a holder is ((reimbursed)) paid by the administrator under subsection (1)(b) of this section, and the property was an interest- bearing demand, savings, or time deposit, the holder may also recover p.

2019 SSBSB 5316 (3) If a holder is ((reimbursed)) paid by the administrator under subsection (1)(b) of this section, and the property was an interest- bearing demand, savings, or time deposit, the holder may also recover from the administrator ((income or gain)) interest under RCW 63.30.380 that would have been paid to the owner if the money had been claimed from the administrator by the owner to the extent the ((income or gain)) interest was paid by the holder to the owner.

(b)(i) Except as otherwise provided in this section, no refund or return of property may be made for any amount or property paid or delivered, or for any interest or penalty paid, more than six years p.

2120 SSBSB 5316 (b)(i) Except as otherwise provided in this section, no refund or return of property may be made for any amount or property paid or delivered, or for any interest or penalty paid, more than six years after the end of the calendar year in which the payment or delivery occurred.

15.14.

(1) Expiration, before, on, or after January 1, 2023, of a period of limitation on an owner's right to receive or recover property, whether specified by contract, statute, or court order, does not prevent the property from being presumed abandoned or affect the duty p.of a holder under this chapter to file a report or pay or deliver property to the administrator.

22p. SSB 5316 of a holder under this chapter to file a report or pay or deliver property to the administrator.

21 SB 5316 (2) ((The administrator may not commence an action or proceeding to enforce this chapter with respect to the reporting, payment, or delivery of property)) If a holder files a report meeting the requirements under RCW 63.30.220, the administrator, absent a showing of fraud, may not issue a determination of liability under RCW 63.30.680 more than six years after the holder filed ((a nonfraudulent report under RCW 63.30.220 with the administrator)) the report.

(3) The administrator may not issue a determination of liability under RCW 63.30.680 or otherwise commence an action, proceeding, or examination with respect to a reporting obligation or other duty of a holder under this chapter more than 10 years after the duty arosearose, , including circumstances where the holder:

16.15.

(4) The administrator may decline the highest bid at a sale under this section and reoffer the property for sale if the administrator determines the highest bid is insufficient.

2322 SSBSB 5316 (4)(5) The administrator maymust declinepublish theat highestleast bidone notice of the sale, at aleast salethree underweeks thisbut sectionnot andmore reofferthan five weeks before the propertysale, forin salea ifnewspaper theof administratorgeneral determinescirculation in the highestcounty bidin which the property is insufficient.sold.

(5) The administrator must publish at least one notice of the sale, at least three weeks but not more than five weeks before the sale, in a newspaper of general circulation in the county in which the property is sold.

17.16.

18.17.

(a) Child support arrearages, including child support collection costs and child support arrearages that are combined with maintenance;

2423 SSBSB 5316 (a)(b) ChildA supportcivil arrearages,or includingcriminal childfine supportor collectionpenalty, costscourt andcosts, childa supportsurcharge, arrearagesor thatrestitution areimposed combinedby witha maintenance;final order of an administrative agency or a final court judgment;

(b) A civil or criminal fine or penalty, court costs, a surcharge, or restitution imposed by a final order of an administrative agency or a final court judgment;

19.18.

(2) The administrator may contract with a person to conduct an examination under this section and RCW 63.30.570 through 63.30.640 p.

2524 SSBSB 5316 (2) The administrator may contract with a person to conduct an examination under this section and RCW 63.30.570 through 63.30.640 and 63.30.660 through 63.30.690.

20.19.

p.Sec.

2620. SSB 5316 Sec.

21.

(1)p. A ((person)) holder who fails to pay or deliver property when due is required to pay to the administrator interest at the rate as computed under RCW 82.32.050(1)(c) and set under RCW 82.32.050(2).

25 SB 5316 (1) A ((person)) holder who fails to pay or deliver property when due is required to pay to the administrator interest at the rate as computed under RCW 82.32.050(1)(c) and set under RCW 82.32.050(2).

(6) Penalties under subsections (2) through (4) of this section may be waived or canceled only if:

2726 SSBSB 5316 (6)(a) PenaltiesThe underadministrator subsectionsfinds (2)that throughthe (4)failure ofto pay or deliver within the time prescribed by this sectionchapter maywas bethe waivedresult of circumstances beyond the ((person's)) holder's control sufficient for waiver or canceledcancellation onlyof if:penalties under RCW 82.32.105;

(a) The administrator finds that the failure to pay or deliver within the time prescribed by this chapter was the result of circumstances beyond the ((person's)) holder's control sufficient for waiver or cancellation of penalties under RCW 82.32.105;

22.21.

Any ((person)) putative holder having been issued a determination by the administrator, or a denial of an application for a refund or p.

2827 SSBSB 5316 Any ((person)) putative holder having been issued a determination by the administrator, or a denial of an application for a refund or return of property, under the provisions of this chapter is entitled to a review by the administrator conducted in accordance with the provisions of RCW 34.05.410 through 34.05.494, subject to judicial review under RCW 34.05.510 through 34.05.598.

23.22.

(b) The appeal is perfected only by serving a copy of the notice of appeal upon the administrator and filing the original with proof p.of service with the clerk of the superior court of Thurston county, within the time specified in subsection (2) of this section.

29p. SSB 5316 of service with the clerk of the superior court of Thurston county, within the time specified in subsection (2) of this section.

28 SB 5316 (4)(a) The trial in the superior court on appeal must be de novo and without the necessity of any pleadings other than the notice of appeal.

24.23.

(2) If a provision in an agreement described in subsection (1) of this section applies to mineral proceeds for which compensation is to be paid to the other person based in whole or in part on a part of p.

3029 SSBSB 5316 (2) If a provision in an agreement described in subsection (1) of this section applies to mineral proceeds for which compensation is to be paid to the other person based in whole or in part on a part of the underlying minerals or mineral proceeds not then presumed abandoned, the provision is void regardless of when the agreement was entered into.

25.24.

and p.(c) Correspondence sent by the administrator or the administrator's agent to holders concerning past, current, pending, or potential examinations.

31p. SSB 5316 (c) Correspondence sent by the administrator or the administrator's agent to holders concerning past, current, pending, or potential examinations.

30 SB 5316 (2) A record or other information that is confidential under law of this state other than this chapter, another state, or the United States continues to be confidential when disclosed or delivered under this chapter to the administrator or administrator's agent.

26.25.

27.26.

28.27.

Sections 3 through 6, 1413 through 17,16, and 2019 through 2322 of this act apply retroactively and prospectively to January 1, 2023.

29.28.

Sections 87 and 109 through 1211 of this act take effect January 1, 2026.

3231 SSBSB 5316