Proposed revisions to the Uniform Unclaimed Property Act were under debate this past week in Washington, DC as the Uniform Law Commission Committee to Revise the Uniform Unclaimed Property Act continued the process of crafting a new Uniform Act. The Drafting Committee focused on seven priority issues, including (1) the definition of address; (2) gift cards and stored value cards; (3) life insurance; (4) securities; (5) presumptions of abandonment; (6) definition of holder; and (7) burden of proof.

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