Section 1301.11 - Report of property subject to custody and control of the Commonwealth under this article(a) Every person holding property which became subject to custody and control of the Commonwealth under this article during the preceding year shall report to the State Treasurer as hereinafter provided.(b) The report shall be verified and shall include:1. Except with respect to travelers checks and money orders, the name, if known, and last known address, if any, of each person appearing from the records of the holder to be the owner of any property of the value of fifty dollars ($50) or more;2. The nature and identifying number, if any, or description of the property and the amount appearing from the records to be due, except that items of value under fifty dollars ($50) each may be reported in the aggregate;3. The date when the property became payable, demandable, returnable or the date upon which the property was declared or found to be without a rightful or lawful owner, and the date of the last transaction with the owner with respect to the property; and4. Other information consistent with law which the State Treasurer prescribes by regulations as necessary for administration of this article.(c) If the person holding property subject to custody and control of the Commonwealth under this article is a successor to other persons who previously held the property for the owner, or if the holder has changed his name while holding the property, he shall file with his report all prior known names and addresses of each holder of the property.(d) The report shall be filed on or before April 15 of the year following the year in which the property first became subject to custody and control of the Commonwealth under this article. The State Treasurer may postpone for a period not exceeding six (6) months the reporting date upon written request by any person required to file a report.(e) Verification, if made by a partnership, shall be executed by a partner; if made by an unincorporated association or private corporation, by an officer; and if made by a public corporation, by its chief fiscal officer; if made by a court, by an officer of the court; and if made by a public officer of the United States, of the Commonwealth of Pennsylvania or any political subdivisions thereof or of any other state or political subdivision thereof, by that public officer.(f) Subsequent to the filing of the reports required by this section, the State Treasurer shall compile a list of the abandoned and unclaimed property contained in the reports. The listing shall contain the names, items of property and last known addresses, if any, of the owners listed in the reports. The State Treasurer shall, after the notification period provided for in section 1301.12 , make the listing available for examination, inspection or copying at fees to be determined by the State Treasurer.(g) All agreements or powers of attorney to recover or collect abandoned and unclaimed property contained in the reports filed under this article shall be valid and enforceable only if the agreements: 1. are in writing and duly signed and acknowledged by the owner;2. clearly state the fee or compensation to be paid, which shall not exceed fifteen per centum of the value of the abandoned and unclaimed property;3. disclose the nature and value of the property; and4. disclose the name and address of the holder and, if known, whether the abandoned and unclaimed property has been paid or delivered to the State Treasurer;5. identify the name, address and telephone number of the person assisting in the location, delivery or recovery of the abandoned and unclaimed property; and6. identify the valid certificate of registration number assigned to the person assisting in the location, delivery or recovery of the abandoned and unclaimed property under section 1301.11a. * * *
(i) Subsection (g) shall not apply to any agreement or power of attorney entered into between the personal representative, guardian, trustee or other person in a representative capacity to the owner of the property in which such person has an interest for a fixed fee or hourly or daily rate not contingent upon the discovery of property or the value of property discovered: Provided, however, That any such agreement under this subsection for the purpose of evading the provisions of subsection (g) shall be void.(j) Nothing in this section shall be construed to prevent an owner from asserting at any time that any agreement to locate or reveal abandoned and unclaimed property reported to the State Treasurer is based on an excessive or unjust consideration.(k) To the maximum extent feasible, the State Treasurer shall be entitled to request and receive and shall utilize and be provided with such facilities, resources and data of any court, department, division, board, bureau, commission or agency of the Commonwealth or any political subdivision thereof as it may reasonably request to carry out properly its powers and duties hereunder.Amended by P.L. 1053 2014 No. 126, § 8.1, eff. 7/10/2014.1929, April 9, P.L. 343, art. XIII.1, § 1301.11, added 1982, Dec. 9, P.L. 1057, No. 248, § 5, imd. effective. Amended 1986, May 16, P.L. 197, No. 60, § 2, imd. effective; 1994, Dec. 12, P.L. 1015, No. 138, § 4, imd. effective; 1999, Dec. 15, P.L. 942, No. 66, § 3, effective in 60 days; 2002, June 29, P.L. 614, No. 91, § 9, effective July 1, 2002.