Calif. Life Insurers Get Relief From Unclaimed Property Law

Law360 (July 30, 2018, 2:04 PM EDT) -- On July 17, 2018, the California Superior Court in San Francisco ordered declaratory and injunctive relief against the Office of the California State Controller in connection with the controller’s regulation of life’s insurers’ compliance with California’s Unclaimed Property Law, or UPL. Specifically, the court held that the California Controller had improperly promulgated two regulations imposing requirements on life insurers under the UPL. The court invalidated the following “underground” regulations, which the controller adopted without complying with the procedural requirements of the California Administrative Procedure Act:

1. A “Dormancy Trigger Regulation” under which the California Controller required that life insurers report unpaid...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!