(a) If a holder enters into a contract or other arrangement for the purpose of evading an obligation under this chapter or otherwise willfully fails to perform a duty imposed on the holder under this chapter, the Administrator may require the holder to pay the Administrator, in addition to interest as provided in § 41-162.04(a), a civil penalty of $1,000 for each day the obligation is evaded or the duty is not performed, up to a cumulative maximum amount of $25,000, plus 25 percent of the amount or value of property that should have been but was not reported, paid, or delivered as a result of the evasion or failure to perform.
(b) If a holder makes a fraudulent report under this chapter, the Administrator may require the holder to pay to the Administrator, in addition to interest under § 41-162.04(a), a civil penalty of $1,000 for each day from the date the report was made until corrected, up to a cumulative maximum of $25,000, plus 25 percent of the amount or value of any property that should have been reported but was not included in the report or was underreported.
(Nov. 13, 2021, D.C. Law 24-45, § 7076, 68 DCR 010163.)
Structure District of Columbia Code
Chapter 1A - Revised Uniform Unclaimed Property Act
§ 41–162.01. Judicial action to enforce liability
§ 41–162.02. Interstate and international agreement; cooperation
§ 41–162.03. Action involving another state or foreign country
§ 41–162.04. Interest and penalty for failure to act in timely manner
§ 41–162.05. Other civil penalties
§ 41–162.06. Waiver of interest and penalty
§ 41–162.07. Right to administrative hearing; entry of civil judgment by Superior Court