An agreement by an apparent owner and another person, the primary purpose of which is to locate, deliver, recover, or assist in the location, delivery, or recovery of property held by the administrator, is enforceable only if the agreement:

1. (1) is in a record that clearly states the nature of the property and the services to be provided;
2. (2) is signed by or on behalf of the apparent owner; and
3. (3) states the amount or value of the property reasonably expected to be recovered, computed before and after a fee or other compensation to be paid to the person has been deducted.

Enacted by Chapter 371, 2017 General Session