Uniform Law Commission Prepares to Vote on Model Unclaimed Property Act


Diann Smith said that once the Uniform Law Commission votes on its final draft unclaimed property statute, the draft will go to the American Bar Association for review, after which the ULC will ask insurance commissioners to submit legislative plans for states to consider. Ms. Smith added that, while states may begin to consider unclaimed property legislation in their next sessions, she expected most activity to commence the following year.