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NC S313

Bill

Status

Introduced

3/17/2021

Primary Sponsor

Thomas McInnis

Click for details

Origin

Senate

2021-2022 Session

AI Summary

  • Defines "property finder" as an individual or business entity that seeks to locate, deliver, or recover property for a fee or other consideration, including distributable or abandoned property.

  • Disqualifies persons employed by, acting as agents for, or conducting business with property finders from serving as personal representatives in estate matters.

  • Voids agreements between property finders and owners entered into within 24 months after property becomes distributable to the owner or is paid to the Treasurer, with exceptions for attorney agreements regarding identified property.

  • Requires property finders to register annually with the Treasurer for a $100.00 fee and obtain licensure as private investigators through the Private Protective Services Board.

  • Authorizes the Treasurer to suspend a property finder's registration for up to one year for violations, including initiating claims without proper registration, licensure, or valid owner agreements, and prohibits suspended finders from conducting business with the Unclaimed Property Division.

Legislative Description

Property Finder Definition and Governance

Boards

Last Action

Ref To Com On Rules and Operations of the Senate

3/18/2021

Committee Referrals

Rules and Operations of the Senate3/18/2021

Full Bill Text

No bill text available