(a) An agreement to pay compensation to locate, deliver, recover, or assist in the recovery of property reported under Alaska Stat. § 34.45.280 while in the possession of a holder is unenforceable if made

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Terms Used In Alaska Statutes 34.45.700

(1) before the date payment or delivery is made under Alaska Stat. § 34.45.320; or
(2) within 24 months after the date payment or delivery is made under Alaska Stat. § 34.45.320.
(b) An agreement executed after the 24-month period is enforceable only if

(1) the fee or compensation is not more than

(A) 20 percent of the value of the property if the value of the property is less than $500; and
(B) 10 percent of the value of the property if the value of the property is $500 or more;
(2) the agreement is in writing, signed by the apparent owner, does not exceed six months, and specifies the fees to be charged, nature and value of the property, and the value of the apparent owner’s share after the fee or compensation is deducted.
(c) This section does not preclude an owner from asserting that an agreement to locate property is otherwise invalid.
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