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UNCLAIMED PROPERTY FOCUS is a blog written by and for UPPO members, featuring diverse perspectives and insights from unclaimed property practitioners across the U.S. and Canada. We welcome your submissions to Unclaimed Property Focus. Please contact Tim Dressen via tim@uppo.org with any questions about submitting a blog post for consideration and refer to our editorial guidelines when writing your blog post. Disclaimer: Information and/or comments to this blog is not intended as a substitute for legal advice on compliance or reporting requirements.

 

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The Holders Coalition: Strength in Numbers

Posted By Administration, Thursday, August 31, 2017

As state legislatures and regulators turn out more and more unclaimed property bills and proposed regulations, UPPO’s advocacy efforts have become increasingly important. The Government Relations and Advocacy Committee constantly monitors and responds to legislation and proposed regulations that could be problematic for unclaimed property holders. In an effort to amplify the holder community’s voice, UPPO has joined with other organizations to form the Holders Coalition. 

 

During the creation of the Revised Uniform Unclaimed Property Act (RUUPA), the American Council of Life Insurers (ACLI) developed the Holders Coalition to encourage a consistent, unified voice on behalf of holders when working with the RUUPA Drafting Committee. The coalition brought together holders and their associations to work together on common interests. Following adoption of the RUUPA last summer, coalition members decided it would be beneficial to continue their work as other opportunities for collaboration arise. 

 

“The coalition format allows UPPO to maintain our independent voice while working closely with like-minded groups on select, common interests,” said UPPO Executive Director Toni Nuernberg. “In fact, UPPO’s strategic plan calls for the development of coalition relationships with other organizations, so participation in the Holders Coalition aligns with our long-term goals.” 

 

As the coalition has evolved, ACLI recently asked whether UPPO would consider facilitating the group, and the UPPO Board of Directors agreed. UPPO’s new role involves arranging monthly conference calls, creating the agenda and hosting the calls. UPPO also created a web page for coalition members to access documents related to the group’s work.

 

“UPPO is well-suited to take on a leadership role within the coalition,” Nuernberg said. “We are in the unique position of representing holders who work across all industries, so facilitating the coalition is a natural fit.”

 

Currently, the coalition is working on a plan to address problematic provisions of Illinois S.B. 9, which is scheduled to go into effect on Jan. 1, 2018. 

Tags:  advocacy  holders coalition  unclaimed property 

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