The Uniform Law Commission is making some progress in its efforts to streamline and tame state unclaimed property regulation.
The ULC, a body that provides states with legislation meant to clarify and stabilize state law, is mobilizing those in the abandoned and unclaimed property profession to update and revise the 1995 Uniform Unclaimed Property Act. States are free to adopt or set aside ULC legislative recommendations, but the ULC plans to promote a revised act to encourage state governments to adopt new methods for administering unclaimed property law.
