Egypt wants King David (hotel)

Ynet ^ | 11:44 , 06.26.07 | Smadar Peri

[SJackson]

I do not agree - If I find 100+ year-old stock certificates in GE, as an example, in Grandma’s attic, those certificates are still perfectly valid.

Depends on the laws in the transfer agent or custodians state. The liklihood is you'd find them in an abandoned property account in some state. Along with the dividends, they're no different. Most states simply hold these assets in custody, they don't revert to the state though they could. Whether you'd still hold GE shares or an equivalent value based on when the state took possession I haven't a clue, and I think that varies state to state. But ownership is problematical at best.

[patton]

If you have a real example of where a state declared ownership of stock vacant after some period of time, because dividend checks were not cashed, etc., I would like to see it.

Any state in the US.

Once.

Cite me an example, please.

[tang-soo]

Pay them in Palestinian currency. Oh wait!

[SJackson]

Again, the State may return the funds if you follow the claim procedure, but declare ownership "vacant", easy, I'll use New York as an example since it's a financial center. I believe they're a 3 year dormancy state. When you move, don't forget to change addresses. What would happen when you inquired about Grandma's stock is GE's transfer agent would tell you they hadn't a clue, it was sent to the New York State Comptroller on ----. From there on out you'd deal with the State. Whether you'd end up getting cash, or a stock certificate, I don't know, nor do I know about dividends or appreciation after deposit. I think some states liquidate these things.

Here in Illinois, same rules, if you "abandon" a safety deposit box or stolen property, it gets auctioned off.

New York State's Unclaimed Funds

Reporting Unclaimed Funds To New York State By law, banks, insurance companies, corporations and the courts are among the many organizations required to report dormant accounts to the State Comptroller.  The New York State Abandoned Property Law requires organizations to annually review their records and transfer accounts that have reached certain dormancy thresholds to the State Comptroller, who serves as custodian of the funds until they can be returned to their rightful owners. To ensure compliance, every organization should review the law, which can be found in McKinney's Consolidated Laws of New York, Book 2 1/2, available on the internet at: http://public.leginfo.state.ny.us (go to "Laws of New York," then "ABP Abandoned Property"). The State Comptroller has specific guidelines for reporting the dormant accounts so that all of the information can be consolidated into a single database. To assist organizations in the reporting process, the State Comptroller's Office of Unclaimed Funds provides an instructional handbook, issues annual reminders and updates, and conducts periodic meetings.  If you have questions about reporting unclaimed funds to New York State, please contact the Reports Processing Unit. Below are links to reporting materials that you can download or print.  If you need reporting materials mailed to you, fax your requests to (518) 270-2220.  Unclaimed Property Publication and Forms Handbook for Reporters of Unclaimed Funds AC2686 - Paper Report - (.pdf version - download free Acrobat Reader) AC2709 - Verification and Checklist for Unclaimed Property (.pdf version) Extension Request (.pdf version) Waiver Request (.pdf version)

[SJackson]

http://www.osc.state.ny.us/ouf/oufhandbook/money.htm

[SJackson]

Just in case this turns on a light in someones mind

• Alabama Unclaimed Property - Searchable database of unclaimed property, business reporting requirements, and expired warrants information.
• Alaska Unclaimed Property - Searchable online database of property governed under Alaska Statute 34.45.
• AOL's Does the Government Owe You Money? - Free listing of all the state and federal databases to search for unclaimed property and money.
• Arizona Unclaimed Property - Information on unclaimed property for Arizona, link to third-party site for unclaimed property.
• Arkansas Unclaimed Property - Searchable database for unclaimed property.
• California Unclaimed Property - Searchable database of unclaimed property, filing instructions, forms, and laws & regulations.
• Connecticut Unclaimed Property - Online listing of unclaimed property owners.
• Delaware Unclaimed Property - Information on unclaimed property for Delaware, link to third-party site for unclaimed property.
• Florida Unclaimed Property - Searchable database of unclaimed property, business reporting requirements, property holders, statutes and expired warrants information.
• Georgia Unclaimed Property - Information and searchable directory.
• Idaho Unclaimed Property - Online database of Idaho's unclaimed property.
• Illinois Unclaimed Property - Illinois website contains link to third-party site for unclaimed property.
• Indiana Unclaimed Property - Information and searchable directory of unclaimed property, and option to purchase bulk data of the unclaimed property database.
• Iowa Unclaimed Property - Searchable database of unclaimed property, and filing instructions.
• Kansas Unclaimed Property - Database of unclaimed property searchable by name, city, and county.
• Maine Unclaimed Property - Filing information for property holders, and online database of unclaimed property owners.
• Maryland Unclaimed Property - Online database of unclaimed property.
• Massachusetts Abandoned Property - Describes the process for investigating unclaimed property in the Commonwealth; provides text of regulations, holder resources, and FAQ.
• Minnesota Department of Commerce - Unclaimed Property - Information about reclaiming unclaimed and abandoned property, with a list of owner names.
• Mississippi Treasury Department: Unclaimed Property - Includes online database searchable by name or company as well as forms and instructions.
• Missouri State Treasurer - Unclaimed Property Division - Information and directory of unclaimed property.
• National Association of Unclaimed Property Administrators - NAUPA consists of state officials charged with the responsibility of collecting and reuniting lost owners with their unclaimed property.
• Nebraska Unclaimed Property - Filing instructions, forms, searchable database of unclaimed property and laws and regulations.
• Nevada Unclaimed Property - Includes a searchable database and information on legal requirements for reporting and claiming abandoned assets.
• New Jersey Unclaimed Property - Claimant information, property reporting information, and searchable property database.
• New York Unclaimed Property - Searchable database of unclaimed property, business reporting requirements, property holders, and statutes.
• North Carolina Unclaimed Property - Filing information for property holders, and online database of unclaimed property owners.
• North Dakota Unclaimed Property - Searchable database of unclaimed property, business reporting requirements, property holders, statutes and expired warrants information.
• Ohio Unclaimed Funds - Searchable database, reporting forms, applications, laws, rules, and guidelines.
• Oregon Unclaimed Property - Searchable database of unclaimed property.
• Pennsylvania Unclaimed Property - Filing information for property holders, and online database of unclaimed property owners.
• Rhode Island Unclaimed Property - Searchable database for unclaimed property.
• Tennessee Unclaimed Property - Searchable database of unclaimed property, business reporting requirements, property holders, and statutes.
• Texas Unclaimed Property - Filing instructions, forms, searchable database of unclaimed property and laws and regulations.
• Utah Unclaimed Property - Searchable database of unclaimed property, and filing instructions.
• Vermont's Unclaimed Property Division - Interface for searching by owner or town, as well as text of statues, heir finder tools, links, and other unclaimed property resources.
• West Virginia Unclaimed Property - Searchable directory for individuals, and businesses, reporting forms, laws and regulations.
• Wisconsin Unclaimed Property - State-wide and national databases of unclaimed property held by the government.

[MeanWestTexan]

Is that the same with certificated securities?

I know most people’s stock is just blips on a computer screen, but some people skip the exchange and go directly to the company.

I would think that would be a different issue altogether, especially with “bearer” type securities.

[patton]

Pardon, but those rules appear to apply to checks, not stocks.

Am I wrong? (I often am).

I am concerned, you see, because I own stocks - I don’t do anything with them, and don’t intend to.

I just own them.

You seem to be telling me that the state can sieze them, because I haven’t visited the factory in 15 years, nor had financial dealings with them.

I find that silly.

[SJackson]

Yes, paper or custodial account, doesn’t matter. The usual test is returned mail, whether dividend checks and annual reports for someone holding a paper certificate, or monthly statements for a custodial account. There aren’t many bearer securities anymore, but lose one of those you’ve got a serious problem.

[SJackson]

You don’t have to “visit the factory”, you do have to keep your address current and cash checks when they’re sent to you. It would seem to be common sense, but there are huge amounts of money in these accounts. And firms which do nothing but “find” the owners, for a percentage of the recovery. I don’t think any states actually “sieze” financial assets anymore, they simply hold them as a custodian, aka they use the money. Which is why they have these laws, if they didn’t the banks would get to use the money. When you make recovery, at what point in time the valuation is done I don’t know. Cash assets, as opposed to stock, I believe you generally stop earning interest on the date it’s turned over to the state.

[SJackson]

BTW this, and lost certificates, were a much bigger problem in the days of paper.

[MeanWestTexan]

I actually have bearer Swiss gold bonds that were originally MWT, Sr., Sr’s circa 1908.

For grins (and really to see if they would work), I showed up (when on a tour) and asked for 2.5 troy ozs of gold (the smallest one we had). They looked at the doc, checked a list, messed around in the back, and handed me a rather disappointingly small bar, which now sits in a safe deposit box.

[SJackson]

Too small for a paperweight, to big for a necklace. Still nice to have.

[sheik yerbouty]

They can go micturate upon a length of hemp..

[rmlew]

Back int he real world the Irgun warned the British and French about the placement of a bomb in the HQ of British occupation. The French wisely evacuated their compound. The British not only ignored the claims, but refused to pass it on to civilians.

[bvw]

And would Egypt be returning the wealths to the Jews it kicked out in 1967 and the descendants there of? Or just making one-way claims.

[quietolong]

from the link:

>>> A British officer standing nearby, one Major Mackintosh, became suspicious of this group of Arabs and began to ask questions, but was suddenly gunned down by a member of the Jewish gang and subsequently died. A policeman stationed at the tradesman’s entrance suffered a similar fate when he challenged the Jewish terrorists. Both victims were unarmed. A gun battle soon began between the terrorist and guards during which time the Jews ignited the fuse and bolted from the building <<<

So they told them BEFORE placeing the bomb they were going to be putting a bomb in it. OK If you say so Yup /s

[rmlew]

No, they placed the bomb and called the headquarters of both embassies. The French took that call and appercieated teh risk. The British told them to bugger off and then started to search for the "terrorists" instead of evacuating the building.

But hay, the Brits, who armed the Arabs and reneged on the Mandate would never lie, now would they.

[rmlew]

Like you are going to be objective.
I have never seen you post anything but attacks on Israel, even when we are dealing with unreleated Islamist terror.

You are a theologiical anti-Zionist for whom facts are irrelevent.

If you ask for understanding, put the missing passages in. You will see the current Israel is a fraud. Who’s founders were terrorists and fought on the side of the Nazis. And Menachem Begin was one of the leaders. Still not convinced. The UN had a hand in it’s formation.

http://www.freerepublic.com/focus/f-news/1681128/posts?page=14#14
Actually, no. The Irgun did try to negotiate witht e Nazis, but only to save Jews. They did fight the British occupation, but this was put on hold for most of the war. The splinter group LeHI, better known as the Stern Gang, did chose to fight the british through out the war, and its leaders Avraham Stern was all but turned over to them because of this.
Try again.

Of course the British were all too happy to arm and prop up Hitler's Mufti and then pardon the SS recruiter so he could go back to incite murder of Jews with British arms.