177.35 Agreement to locate reported property.

(1) Except for agreements made under s. 177.33, if a person agrees, for compensation and on behalf of the owner of property reported under s. 177.17, to locate, deliver, recover or assist in the recovery of the reported property, the agreement shall be in writing and shall include all of the following:

(a) A description of the property and the value of the property.

(b) A clear and prominent statement of the fee or other compensation to be paid by or on behalf of the owner, which may not exceed 20 percent of the actual value of the property recovered.

(c) A clear and prominent statement disclosing the name and address of the holder and whether the property has been paid to the administrator.

(d) The notarized signature of the owner.

(2)

(a) An agreement entered into under this section is not enforceable if the agreement is entered into within 12 months after payment or delivery of the property is due under s. 177.17 (4) (a).

(b) An agreement entered into under this section that relates to property that is in the form of amounts credited under s. 20.912 (1) to the support collections trust fund or amounts not distributable from the support collections trust fund to the persons for whom the amounts were awarded is not enforceable if the agreement is entered into within 12 months after December 1 following the reporting of the property under s. 177.17.

(3) An agreement entered into under this section shall be submitted with a claim filed under s. 177.24 (1) (b).

History: 1983 a. 408; 1987 a. 399; 2001 a. 16; 2011 a. 231.