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NAUPA Submits Recommendations and Research to Uniform Law Commission

On May 9, 2014, NAUPA submitted broad recommendations and research to the Uniform Law Commission toward an improved Uniform Unclaimed Property Act:

Letter to Commissioners Blackburn and Houghton
1995 Act with Recommended Revisions
Business-to-Business Transactions Whitepaper
Derivative Rights Doctrine Whitepaper
States Effective Utilization of Private Auditors Whitepaper and Attachments - Complete set of state contract documents:
Florida RFP for Unclaimed Property Holder Audit; Florida General Audit Contract Conditions; Florida General Ledger Audit Certification; Florida and Xerox Redacted UP Auditor Provider Contract
Opposing Reducing Restrictions on Locator Contracts Whitepaper
Delegation of Holder Reporting Obligations Whitepaper
Utilizing Estimation and Statistical Sampling Whitepaper
Limitations and Retention of Records Whitepaper
Life Insurance Recommendations
Comparison of Unclaimed Property Program Claims Paid Three-Year vs. Five-Year Dormancy

On September 30, 2014, NAUPA submitted further comments to the Uniform Law Commission:

NAUPA Positions on Recommendations Made by the ABA and Other Stakeholders

NAUPA's submission along with comments from other stakeholders can be found on the ULC Website that includes a list of the drafting committee members.

NAUPA Files Amicus Brief In Support of Treasurer Perdue Regarding Life Insurance Case

Recently, NAUPA filed an amicus curiae brief in the John D. Perdue v. Nationwide case. NAUPA's involvement in this matter resulted from a request of one of the organization's principal members, West Virginia State Treasurer John D. Perdue. NAUPA filed the amicus advocating the reversal of the Nationwide decision that had been handed down by a West Virginia trial court on December 27, 2013. The trial court's decision was troubling for a number of reasons, including the fact that it determined that the "proof of death" of an insured was limited to instances where a death certificate for an insured had been produced, and a "perfected" claim had been filed with the life insurer. Additionally, the trial court found that West Virginia's life insurance regulatory statute exclusively determined the duties of life insurers and did not need to be construed in conjunction with the Uniform Unclaimed Property Act, and case law decisions thereunder. Read the entire brief.


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