Overview
Stephen Kranz called the Uniform Law Commission’s effort to rewrite the 1995 Uniform Unclaimed Property Act “a bit like trying to eat an elephant,” saying the process “for people to consider the draft, respond to it, and have a meaningful dialogue with the committee members is not designed to allow for meaningful, considered input.” Diann Smith argued against rushing the process, noting that many of the almost 100 issues involved “are quite controversial” and adding that because the Act “has so many different stakeholders and has led to significant litigation over the years, maybe it’s appropriate to revisit the timing issue.”
