Thursday, August 15, 2013

Lost + Found: California Lawsuit, Buckeye Bucks, North Carolina Changes

California Files Unclaimed Property Lawsuit -- According to an article in LifeHealthPro, the California State Controller's office has filed a lawsuit against Kemper Corporation - a company operating life insurance subsidiaries - for failing to turn over records and data requested in connection with California's unclaimed property laws.  The article notes that this is the second such lawsuit filed by California seeking access to unclaimed property compliance information.

Buckeye State Gambler Pennies Add Up -- State Hits Jackpot -- An article in The Columbus Dispatch demonstrates how the delivery of an aggregate of incredibly small dollar items to the state pursuant to unclaimed property laws results in real money.  The article recounts how slot players and others often fail to redeem credit vouchers worth only a few cents.  After time, those unclaimed credit vouchers get reported and delivered to the state pursuant to the Ohio Unclaimed Property Act -- to the tune of over $800,000 thus far.

North Carolina Makes Technical Changes to Unclaimed Property Act -- The CCHGroup blog posted a recent article concerning some technical changes to North Carolina's unclaimed property act that went into effect on July 18.  As the article recounts, among other things the Act has been amended to remove some fees and paperwork burdens placed on holders.




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