Page 556

House Bill No. 5506

Public Act No. 22-118 556 of 739

(2) An agreement to locate property shall be valid only if it is in writing, signed by the owner, and discloses the nature and value of the property, and the owner's share after the fee or compensation has been subtracted is clearly stipulated. Nothing in this section shall be construed to prevent an owner from asserting, at any time, that any agreement to locate property is based upon excessive or unjust consideration. (d) The Treasurer shall pay each claim allowed without deduction for costs of notices or sale or for service charges. The Treasurer shall notify the Commissioner of Revenue Services of the payment of claims of five hundred dollars or more to the domiciliary administrator or executor of a deceased owner. (e) In the case of any claim allowed under this section for property, funds or money delivered to the Treasurer pursuant to subdivision (1) or (2) of subsection (a) of section 3-57a, the Treasurer shall pay such claim with interest as follows: For each calendar year or portion thereof that the property, funds or money has been paid or delivered to the Treasurer, the Treasurer shall pay interest at a rate that is not less than the deposit index, as determined under section 36a-26, for such year. Such interest shall accrue from the date of payment or delivery of the property, funds or money to the Treasurer until the date of payment or delivery of the property, funds or money to the claimant. (f) Notwithstanding the provisions of subsection (a) of this section, where the amount of a property reported or transferred to the Treasurer under this part is less than two thousand five hundred dollars, the Treasurer shall pay such amount to an individual if the Treasurer has determined (1) that such individual is the sole owner of such property, and (2) to the Treasurer's satisfaction, the current address of such individual. Sec. 417. Section 3-65a of the general statutes is repealed and the