AmEx Unit's Protest Of NJ Escheat Law Refused By High Court

Law360, New York (October 1, 2012, 7:01 PM EDT) -- The U.S. Supreme Court on Monday declined to take up a challenge by American Express Travel Related Services to a New Jersey law that slashed the time period after which unspent travelers checks are considered abandoned and transferred to the state.

American Express had asked the court to decide whether the state violated due process by using its abandoned property laws to confiscate the proceeds of private enterprise and whether it was unconstitutional for the state to retroactively apply a shortened abandonment period — from 15...
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