63.29.010 - Definitions and use of terms.

Definitions and use of terms.

As used in this chapter, unless the context otherwise requires:

     (1) "Department" means the department of revenue established under RCW 82.01.050.

     (2) "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.

     (3) "Attorney general" means the chief legal officer of this state referred to in chapter 43.10 RCW.

     (4) "Banking organization" means a bank, trust company, savings bank, land bank, safe deposit company, private banker, or any organization defined by other law as a bank or banking organization.

     (5) "Business association" means a nonpublic corporation, joint stock company, investment company, business trust, partnership, or association for business purposes of two or more individuals, whether or not for profit, including a banking organization, financial organization, insurance company, or utility.

     (6) "Domicile" means the state of incorporation of a corporation and the state of the principal place of business of an unincorporated person.

     (7) "Fare card" means any pass or instrument, and value contained therein, purchased to utilize public transportation facilities or services. "Fare card" does not include "gift card" or "gift certificate" as those terms are defined in RCW 19.240.010.

     (8) "Financial organization" means a savings and loan association, cooperative bank, building and loan association, or credit union.

     (9) "Gift certificate" has the same meaning as in RCW 19.240.010.

     (10) "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.

     (11) "Insurance company" means an association, corporation, fraternal or mutual benefit organization, whether or not for profit, which is engaged in providing insurance coverage, including accident, burial, casualty, credit life, contract performance, dental, fidelity, fire, health, hospitalization, illness, life (including endowments and annuities), malpractice, marine, mortgage, surety, and wage protection insurance.

     (12) "Intangible property" does not include contract claims which are unliquidated but does include:

     (a) Moneys, checks, drafts, deposits, interest, dividends, and income;

     (b) Credit balances, customer overpayments, gift certificates, security deposits, refunds, credit memos, unpaid wages, unused airline tickets, and unidentified remittances, but does not include discounts which represent credit balances for which no consideration was given;

     (c) Stocks, and other intangible ownership interests in business associations;

     (d) Moneys deposited to redeem stocks, bonds, coupons, and other securities, or to make distributions;

     (e) Liquidated amounts due and payable under the terms of insurance policies; and

     (f) Amounts distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefits.

     (13) "Last known address" means a description of the location of the apparent owner sufficient for the purpose of the delivery of mail.

     (14) "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.

     (15) "Person" means an individual, business association, state or other government, governmental subdivision or agency, public corporation, public authority, estate, trust, two or more persons having a joint or common interest, or any other legal or commercial entity.

     (16) "State" means any state, district, commonwealth, territory, insular possession, or any other area subject to the legislative authority of the United States.

     (17) "Third party bank check" means any instrument drawn against a customer's account with a banking organization or financial organization on which the banking organization or financial organization is only secondarily liable.

     (18) "Utility" means a person who owns or operates for public use any plant, equipment, property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas.

[2005 c 285 § 1; 2004 c 168 § 13; 1983 c 179 § 1.]

Notes: Effective date -- 2004 c 168 §§ 13 and 14: "Sections 13 and 14 of this act take effect July 1, 2004." [2004 c 168 § 19.]