Monday, April 2, 2012

What California's Unclaimed Property Statistics Mean

Recently, the California State Controller's Office (the CA government entity responsible for administering that state's unclaimed property program) released a variety of charts and statistics relating to property returned by California to owners from 1997-98 to 2010-11.  While the amounts of cash returned, securities returned, and notices mailed to owners seem impressive (and frankly, are impressive), the huge uptick in each of these items doesn't tell the whole story: 

The huge uptick appears to begin in 2007.  As you may recall, in 2007, the California Unclaimed Property Department was shut down by a federal court for what the court determined was a violation of owners' due process rights by the state.  As a result of that injunction, the state passed new legislation that, among other things, required both the holder and the State to make attempts to notify the owner. In other words, while holders in California -- as elsewhere -- send due diligence notices to owners prior to remitting property to the State, California's revised law requires the State to make those efforts as well.  State due diligence notices are arguably more effective from holder notices for at least two reasons:

First, the State generally has access to more and better address databases in order to locate the owners of property.  While the holder generally has only its own records, the state has that information as well as numerous public databases such as drivers' license records, franchise tax reports, personal income tax reports and the like.  The sheer number of contacts between the owner and the state make it more likely that (at least one) state agency will have the right address. 

Second, and more practically, an owner is just more likely to open a letter from the state than from a private company.  Many individuals are inundated with mail from the firms with which they do business in the form of advertising, rebates, promotional material, privacy notices, monthly statements, general correspondence, and product or service offers.  Especially in light of the prevalence of online and electronic bill payment, some people probably don't even open mail from their bank or broker.

Ultimately, what California's statistics seem to show is that state due diligence letters work.  Accordingly, while several states are working hard to increase the scope of property they take and the speed with which they take it (all in the name of protecting owners), there is more they can do if the real goal is to reunite money with its rightful owners.


  1. Siempre habrá una razón por la cual podrán comprar Bolsas Michael Kors Precios de los minoristas en línea. Los compradores de hoy que estén interesados en comprar Michael Kors Rebajas podrán descubrir cómo pueden obtener los mejores resultados que siempre quisieron simplemente haciendo ruido con lo mejor de Bolsos Michael Kors Outlet que ofrecen más allá de precios asequibles.

    Dessutom med så många alternativ att välja mellan, har det blivit praktiskt taget omöjligt för köpare att ta reda på hur de kan köpa Designer Michael Kors Väska Rea online utan att behöva investera för mycket pengar eller tid i scouting den lokala marknaden som annars skulle tyckas omöjligt att göra först . En riktig äkta Michael Kors Rea skulle kunna ge dig tillbaka tusentals dollar och det är något som de flesta inte har råd med. Du kan faktiskt köpa Michael Kors Plånbok online.

    Maintenant, la question se pose de savoir si vous pouvez réellement trouver en ligne authentique Longchamp Soldes bon marché qui sont vraiment authentiques et la réponse est oui, vous pouvez! Un des sites les mieux notés et les plus populaires pour localiser le Sac A Main Longchamp en ligne parfait pour votre collection personnelle est eBay. Rappelez-vous, juste parce que vous êtes en mesure de magasiner en ligne Sac À Main Longchamp sur eBay à des prix incroyablement bas ne signifie pas qu'ils sont faux ou de qualité bon marché.

  2. If shooting arrows from a crossbow into cubes of ballistics gelatin doesn't sound like biological science to you, you've got a lot to learn from University of Illinois Yeezys For Sale animal biology professor Philip Anderson, who did just that to answer Black And White Jordans a fundamental question about how animals use their fangs, claws and tentacles to puncture other animals. Anderson conducted the study with Jeffrey LaCosse, of Charles E. Jordan High School in Durham, North Carolina, and Mark Pankow, of North Carolina State University, Raleigh..

    Tell it to our leaders. Tell it to God. To Premier Jason Kenny, sir, here! I am ready to go to work! NOVAK. Walton and Allen are seen going through their moves as Yeezy Boost 350 Cheap if they are performing a graceful fight Cheap Jordans For Sale scene."I was invited by my friend Javion," says Wilson, who is a first year student at Baldwin Wallace University, majoring in fine arts. "I was told this is a great place for young artists to practice their work. I having a great time."It not easy getting funding for nonprofits, but Cansler seems to have figured it out."We have been getting funding from Yeezy Boost For Sale the Gund Foundation and Cleveland Foundation," said Cansler.

    I always wanted to just sneak him into the bathroom and give him another blowjob. He still lives in the same town, and I want to message him to see if he's up for some more fun. We haven't spoken in years and last I Jordan 1 Black And White heard, he was still not out. Much as you will leave soiled tissues behind at the end of the show, it also a powerful story of love and light, hope and family that is great to see. Show is not truly a musical, but a play with music. The music and lyrics add depth to the story, said Gordon..

    Justin Jones, a member of the Clark County Commission, which oversees the Strip, called Goodman "an embarrassment" while Rep. Dina Titus (D NV), whose district encompasses the Strip, urged constituents to follow the advice of scientists, thereported.Nevada's Black And Yellow Jordan 1 Democratic governor, Steve Sisolak, said on Wednesday night that the vast majority of residents were desperate return to work but supported the stringent statewide lockdown on all non essential businesses."We are clearly not ready to reopen," he said. "I will not allow the citizens of Nevada to be used as a control group, as a placebo, whatever she wants to call it."Several states, including Purple And White Jordans Oklahoma, Florida, Georgia, South Carolina, and Texas, have announced plans to allow some businesses and venues to reopen this Yeezy Boost 350 Black week in a limited capacity.Read more at The Daily Beast.Get our Yeezy Boost 350 Cheap top stories in your inbox every day..

  3. The scheme has adopted the top down and bottom up approach of investing and it will aim at diversifying across various industries and/or sectors and/or market capitalization. Shah will emphasis making investments of the scheme towards companies with sound corporate management and prospects of good future growth. Essentially, the focus would be on stocks driven by long term fundamentals.. (Michael Kors Black Gold Studded Purse)

    Les portes des magasins du Toronto Premium Outlets sont verrouilles. Normal, il n'est pas encore 10h. Mais les clientes, par dizaines, se mettent en file devant la boutique Coach et regardent les sacs travers la vitrine. (Black Michael Kors Purse Outlet)

    White And Gold Coach Purse, It took him a little longer than I think it should have, but on the other hand he's been a massive part of the growth of the game and the growth of Major League and the growth of the national team. I just think the timing was right, and he knows that. President?.

    We are thrilled to be invited by Beechmount Harriers to associate with this meet. We deeply appreciate the hard work done by Eamonn Christie, the Race Director and the assistance afforded to us by Athletics Northern Ireland. IMC meets, since our establishment, regularly attract and feature Northern athletes who travel long distances to attend. (Michael Kors Black Side Bag)

    Cheap Coach Bags Outlet, Located just off I 96 in Howell, this is a popular destination for those on the west side. Tanger offers 75 name brand stores in this easy to navigate, open air mall. Although this isn the largest collection of outlet stores, it a perfect choice for a relaxing afternoon of shopping.

    I always knew Victor was going to be good, he said. "When we played pickup just before practice or after the season, he just showed flashes of everything he is doing now, and I used to tell him that he used to remind me of [Dwyane] Wade. So it's funny to see him doing so well right now, but it's so great.". (Michael Kors Black Zip Purse)

  4. Where did the locusts come into Coach Outlet Store Online India from and what is the Michael Kors Bags Sale role of climate change?The range of Discount Jordan Shoes Wholesale desert locusts Coach Bags On Sale Online is found between Africa and Asia. Cheap Yeezy Shoes In 2019, East African countries like Kenya saw frequent cyclones and heavy rainfall driven Jordan Shoes For Sale Cheap by climate change related warming Ray Ban Sunglass Hut of Arabian Ray Ban Round Sunglasses Sea. Scientists have said that these conditions proved to be New Black Yeezys ideal Air Jordan 1 Sale for breeding of locusts.

    The Globe also works closely with ICUC, a moderation service that helps our editors manage comments across the site. The Globe