New Jersey’s attempt to grab an extra $79.5 million per year by expanding its authority to seize funds from unused gift cards and travelers’ checks is running into legal trouble.
Three suits in federal court in Trenton, N.J., contend that a recent revision to the Uniform Unclaimed Property Act is pre-empted by federal law and violates the Constitution’s taking, commerce, contract and due process clauses.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]