District of Columbia § 41-163.02 When agreement to locate property void.

District of Columbia Statutes

§ 41-163.02 — When agreement to locate property void.

District of Columbia § 41-163.02

Title 41Personal Property.

Ch. 1ARevised Uniform Unclaimed Property Act.

Subch. XIIIAgreement to Locate Property of Apparent Owner Held by Administrator.

This text of District of Columbia § 41-163.02 (When agreement to locate property void.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 41-163.02 (2026).

Text

(a)Subject to subsection (b) of this section, an agreement under § 41-163.01 is void if it is entered into during the period beginning on the date the property was paid or delivered by a holder to the Administrator and ending 24 months after the payment or delivery.

(b)If a provision in an agreement described in subsection (a) 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.

(c)An agreement under subsection (a) of this section that provides for compensation in an amount that is unconscionable is unenforceable except by the apparent owner. An apparent o

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(a) Subject to subsection (b) of this section, an agreement under § 41-163.01 is void if it is entered into during the period beginning on the date the property was paid or delivered by a holder to the Administrator and ending 24 months after the payment or delivery.

(b) If a provision in an agreement described in subsection (a) 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.

(c) An agreement under subsection (a) of this section that provides for compensation in an amount that is unconscionable is unenforceable except by the apparent owner. An apparent owner that believes the compensation the apparent owner has agreed to pay is unconscionable may file an action in the Superior Court to reduce the compensation to the maximum amount that is not unconscionable.

(d) An apparent owner may assert that an agreement described in this section is void on a ground other than it provides for payment of unconscionable compensation.

(e) This section does not apply to an apparent owner's agreement with an attorney to pursue a claim for recovery of specifically identified property held by the Administrator or to contest the Administrator's denial of a claim for recovery of the property.