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PA SB1201
Bill
Status
2/27/2026
Primary Sponsor
Lynda Schlegel Culver
Click for details
AI Summary
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Maximum fee that finders of abandoned/unclaimed property can charge owners reduced from 15% to 10% of the property's value
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Finder registration certificates extended from 2-year to 5-year terms, with new requirements including FBI fingerprint-based criminal background checks and sworn ethics compliance statements
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Disqualifying criminal offenses for finder registration expanded to include burglary, robbery, bribery/corrupt influence, and obstructing governmental operations, in addition to existing offenses (theft, forgery, perjury)
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Penalties for finder violations significantly increased: first offense fine raised from $1,000 to $10,000; second offense from $5,000 to $15,000; third or subsequent offense elevated to third-degree felony with fines up to $100,000
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Published notices of unclaimed property must now include information about how owners can claim property through the State Treasurer at no charge; Treasury Department website must post a sample finder agreement
Legislative Description
In disposition of abandoned and unclaimed property, further providing for report of property subject to custody and control of the Commonwealth under this article, for certificate of finder registration, for notice and publication of lists of property subject to custody and control of the Commonwealth under this article and for penalties.
Last Action
Referred to Finance
2/27/2026