New Hampshire Revised Statutes 471-C:39 – Agreement to Locate, Deliver, or Recover Reported Property
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I. All agreements to pay compensation to locate, deliver, recover, or assist in the recovery of property reported under N.H. Rev. Stat. § 471-C:19, made within 24 months after the date payment or delivery is made under N.H. Rev. Stat. § 471-C:21, are unenforceable.
II. An agreement to pay compensation to recover or assist in the recovery of unclaimed property shall be valid only if the agreement is in writing and signed by the apparent owner, sets forth the nature and value of the property and the value of the apparent owner‘s share after the fee or compensation has been deducted, and contains the following disclosure: “Each state maintains an office of abandoned property. Generally, if for a number of years an owner of property has not communicated in writing directly with the holder of the property and has not otherwise indicated an interest in the property, the property may be transferred to the office of abandoned property which will act as custodian of the property for the owner.”
III. Nothing in this section shall be construed to prevent an owner from asserting at any time that an agreement to locate property is based upon an excessive or unjust consideration.
II. An agreement to pay compensation to recover or assist in the recovery of unclaimed property shall be valid only if the agreement is in writing and signed by the apparent owner, sets forth the nature and value of the property and the value of the apparent owner‘s share after the fee or compensation has been deducted, and contains the following disclosure: “Each state maintains an office of abandoned property. Generally, if for a number of years an owner of property has not communicated in writing directly with the holder of the property and has not otherwise indicated an interest in the property, the property may be transferred to the office of abandoned property which will act as custodian of the property for the owner.”
Terms Used In New Hampshire Revised Statutes 471-C:39
- Apparent owner: means the person whose name appears on the records of the holder as the person entitled to property held, issued, or owing by the holder. See New Hampshire Revised Statutes 471-C:1
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Holder: means a person, wherever organized or domiciled, who is:
(a) In possession of property belonging to another;
(b) A trustee; or
(c) Indebted to another on an obligation. See New Hampshire Revised Statutes 471-C:1 - Owner: means a depositor in the case of a deposit, a beneficiary in case of a trust other than a deposit in trust, a creditor, claimant, or payee in the case of other intangible property, or a person having a legal or equitable interest in property subject to this chapter or his legal representative. See New Hampshire Revised Statutes 471-C:1
- State: means any state, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States. See New Hampshire Revised Statutes 471-C:1
III. Nothing in this section shall be construed to prevent an owner from asserting at any time that an agreement to locate property is based upon an excessive or unjust consideration.