Governor signs bill curbing unclaimed property abuse

lost propertyBy Arizona Business Daily Reports

A bill signed into law will protect lost property in Arizona from being used as a revenue generator for both the state and aggressive contractors, according to proponents.

House Bill 2343 requires a clearer appeals process for companies facing audits from a contractor attempting to identify unclaimed property that hasn’t been turned over to the state, such as life insurance payouts.

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May 2016
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