Post details: California --Unclaimed Property: Appropriate Notice Given for Bank Share Intake, Sale

06/21/07

Permalink 12:17:08 pm, Categories: News, 71 words   English (US)

California --Unclaimed Property: Appropriate Notice Given for Bank Share Intake, Sale

CCH (cch.taxgroup.com) reports:

There was no violation of the California unclaimed property law based on the intake and sale of an individual's shares of stock by two state controllers and their employees because, among other things, any required notice was provided to the share owner, according to the California Appellate Court. The court also rejected the owner's Fifth Amendment claim and claims of violations of the unclaimed property law.

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