Finders’ Agreements

(1) Any agreement between an owner of Property and a Finder for the recovery of Property not yet held by the Treasurer pursuant to the Act is enforceable only if, in addition to the information required by T.C.A. § 66-29-176, it also: (a) Disclosed that, absent the agreement, the Property deemed abandoned under the Act would be required to be delivered to the Unclaimed Property Division for safekeeping, and that the owner would be able to recover the Property without charge and without utilizing the Finder’s services; (b) Informs the Apparent Owner that he or she may obtain additional information about unclaimed Property programs by visiting the Unclaimed Property Division’s website; and (c) Provides that the Finder shall deliver to the Apparent Owner evidence that the Finder has all required licenses to perform the services under the agreement. REGULATIONS GOVERNING THE UNIFORM CHAPTER 1700-02-01 UNCLAIMED PROPERTY ACT (2) Any agreement between an owner of Property and a Finder for the recovery of Property held by the Treasurer pursuant to the Act is enforceable only if, in addition to the information required by T.C.A. § 66-29-176, it also: (a) Provides that, for any successful claim through the efforts of the Finder pursuant to the agreement, the Unclaimed Property Division will direct the full amount of payment to the Apparent Owner and not to the Finder; and (b) Provides that the Finder shall deliver to the Apparent Owner evidence that the Finder has all required licenses to perform the services under the agreement. (3) A Finder shall submit evidence of the Finder’s required licensure with any claim filed with the Unclaimed Property Division.