(1) Except as otherwise provided by this section, the administrator shall promptly deposit in the general fund of this state all funds received under this chapter, including the proceeds from the sale of property under RCW 63.30.420 through 63.30.460. The administrator shall retain in a separate trust fund, the nonappropriated unclaimed personal property account, an amount not less than $750,000 from which prompt payment of claims duly allowed must be made by the administrator.
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Terms Used In Washington Code 63.30.470

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Personal property: All property that is not real property.
(2) The administrator may pay from the trust fund provided in subsection (1) of this section any costs of administering this chapter including those costs set forth in RCW 63.30.490. Such amounts may be expended without appropriation.
(3) The department may periodically transfer from the general fund of this state to the unclaimed personal property account amounts necessary to accommodate the requirements of this section.
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