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News & Press: Uniform Unclaimed Property Act Tracking

UPPO submits comments to Utah

Tuesday, February 28, 2017   (0 Comments)
Posted by: Emily DuToit
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Utah introduced Utah S.B. 175, a version of the Revised Uniform Unclaimed Property Act. On Friday, Feb. 24, UPPO submitted a letter to Senate leadership and bill sponsor Senator Lyle Hillyard regarding the bill's approach to securities property, requesting Utah seriously consider reverting back to the RUUPA language. UPPO specifically advocates that Utah should re-institute the dormancy triggers in the RUUPA, allow owners to be made whole with their property value if they make claim to their property within six years after escheatment, and to require the state to wait a minimum of three years after escheat before liquidating or selling securities property.

 

Read the letter UPPO submitted to Utah.

 

The bill currently sits on the Senate's 2nd reading calendar.


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