(a) (l) All agreements to pay a fee, compensation, commission, or other remuneration to locate, deliver, recover, or assist in the recovery of unclaimed funds received or collected under Section 9.39 or Sections 2335.34 through 2335.36 of the Ohio Revised Code and held by the County Fiscal Office, entered into within two years immediately after the funds are paid into the County Fiscal Office are invalid.
(2) A person interested in entering into an agreement to locate, deliver, recover, or assist in the recovery of unclaimed funds held by the County Fiscal Office for remuneration shall not initiate any contact with an Owner during the two-year period immediately after money is received by the Fiscal Office under Section 9.39 or Sections 2335.34 through 2335.36 of the Ohio Revised Code. Failure to comply with this requirement is grounds for the invalidation of any such agreement between the person and the Owner.
(b) An agreement entered into any time after such two-year period is valid only if all of the following conditions are met:
(1) The aggregate fee, compensation, commission, or other remuneration agreed upon is not in excess of ten percent of the amount recovered and paid to the Owner;
(2) The agreement is in writing, signed by the Owner, and notarized and discloses all of the following items:
A. The name, address, and telephone number of the Owner, as shown by the records of the County Office from which the County Fiscal Office received the unclaimed funds;
B. The name, address, and telephone number of the Owner if the Owner's name, address, or telephone number are different from the name, address, or telephone number of the Owner as shown by the records of the County Office from which the County Fiscal Office received the unclaimed funds;
C. The nature and value of the unclaimed funds;
D. The amount the Owner will receive after the fee or compensation has been subtracted;
E. The name and address of the County Office from which the County Fiscal Office received the unclaimed funds;
F. That the County Fiscal Office will pay the unclaimed funds directly to the Owner;
G. That the person agreeing to locate, deliver, recover, or assist in the recovery of the unclaimed funds holds a valid certificate of registration issued by the Director of the Ohio Department of Commerce under Section 169.16 of the Ohio Revised Code; and
H. The number designated on that certificate of registration and the date the certificate of registration expires.
(3) No agreement described in division (b)(2) of this Section shall include a power of attorney for the payment of the unclaimed funds to any person other than the Owner of the unclaimed funds.
(c) No person shall receive a fee, compensation, commission, or other remuneration, or engage in any activity for the purpose of locating, delivering, recovering, or assisting in the recovery of unclaimed funds under an agreement that is invalid under this Section.
(d) The County Fiscal Office shall not make any payment pursuant to any power of attorney between an Owner of the unclaimed funds and the person with whom the Owner entered into an agreement pursuant to division (b)(2) of this Section to locate, deliver, recover, or assist in the recovery of the unclaimed funds if that power of attorney is entered into on or after the effective date of this Chapter and that power of attorney specifically provides for the payment of unclaimed funds to any person other than the Owner of the unclaimed funds. Nothing in this Section shall be construed as prohibiting the payment of unclaimed funds to the legal representative of the Owner of the unclaimed funds. Notwithstanding the definition of "Owner" specified in division (b) of Section 779.02 of this Chapter, for purposes of the payment of unclaimed funds, a person with whom an Owner entered into an agreement under division (b)(2) of this Section is not a legal representative.
(Ord. 2014-379. Adopted 9-8-14.)
(Ord. 2014-379. Adopted 9-8-14.)