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| National Association of Unclaimed Property Administrators | |
|---|---|
| Name | National Association of Unclaimed Property Administrators |
| Abbreviation | NAUPA |
| Formation | 1961 |
| Type | nonprofit association |
| Headquarters | Richmond, Virginia |
| Region served | United States, Canada |
National Association of Unclaimed Property Administrators is a nonprofit professional association of state and provincial officials responsible for unclaimed property administration across the United States and Canada. It serves as a coordinating body among state treasuries, provincial finance ministries, and related agencies while engaging with courts, legislatures, and industry stakeholders. The association develops uniform model acts, provides education for custodial agencies, and interfaces with corporations, financial institutions, and consumer advocates.
NAUPA traces institutional roots to mid-20th century efforts by state treasurers and auditors to address abandoned financial assets following World War II and the Great Depression, interacting with entities such as the United States Congress, Supreme Court of the United States, and state legislatures including the New York State Assembly and the California State Legislature. Early participants included officials from Texas State Treasury, Pennsylvania Treasury Department, and Ontario Ministry of Finance who coordinated precedents with pressures from entities like American Bankers Association, Chamber of Commerce of the United States, and National Association of Attorneys General. Over decades NAUPA engaged with landmark legal matters implicating laws such as the Uniform Unclaimed Property Act initiatives and litigated or consulted on disputes adjacent to decisions from the United States Court of Appeals for the Ninth Circuit and the United States District Court for the Southern District of New York. The association's archives record collaborations with academic institutions like Harvard Law School, Yale Law School, and policy centers including the Brookings Institution and the Heritage Foundation on statutory reform and fiscal policy.
NAUPA is governed by an executive board composed of elected state and provincial officials, drawing officers from offices such as the Treasurer of Virginia, State Auditor of Minnesota, Comptroller of Maryland, and the Secretary of State of California. Its bylaws reference coordination with other bodies including the National Association of State Auditors, Comptrollers and Treasurers, the Conference of State Bank Supervisors, and the National Conference of State Legislatures. NAUPA’s staff liaise with agencies like the Internal Revenue Service, Financial Crimes Enforcement Network, and the Federal Reserve Bank on compliance and reporting standards. Committees reflect expertise from counterparts in the Securities and Exchange Commission, Consumer Financial Protection Bureau, and provincial regulators such as the Ontario Securities Commission.
NAUPA develops model legislation, best practices, and centralized reporting mechanisms that affect custodial responsibilities overseen by entities like the Wells Fargo, JPMorgan Chase, Bank of America, and insurance firms such as MetLife and Prudential Financial. It administers uniform reporting platforms that intersect with corporate counsel offices at firms such as Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers. The association maintains data standards used by state unclaimed property programs administered by offices including the New York State Comptroller, California State Controller, Florida Department of Financial Services, and provincial treasuries like Quebec Ministry of Finance. NAUPA coordinates claims processing, asset reunification efforts, and engages with stakeholders such as the National Association of Insurance Commissioners, Mortgage Bankers Association, and trade groups including the National Association of Realtors.
Membership comprises state and provincial unclaimed property administrators from jurisdictions including Alabama Department of Revenue, Alaska Department of Revenue, Arizona Department of Revenue, Arkansas State Treasurer, Colorado Department of Revenue, Connecticut Treasurer, Delaware Department of Finance, Georgia Department of Revenue, Illinois State Treasurer, Indiana Treasurer of State, Iowa Department of Revenue, Kansas Department of Revenue, Kentucky State Treasurer, Louisiana Department of Treasury, Maine Treasury, Maryland Comptroller, Massachusetts State Auditor, Michigan Department of Treasury, Missouri State Treasurer, Montana Department of Revenue, Nebraska Department of Revenue, Nevada State Treasurer, New Jersey Department of the Treasury, New Mexico State Treasurer, North Carolina Department of State Treasurer, Ohio Department of Commerce, Oklahoma State Treasurer, Oregon Department of Revenue, Pennsylvania Treasury Department, Rhode Island Department of Revenue, South Carolina Treasurer's Office, Tennessee Department of Revenue, Texas Comptroller of Public Accounts, Utah State Treasurer, Vermont State Treasurer, Virginia Department of the Treasury, Washington State Treasurer, West Virginia State Treasurer, and Wisconsin Department of Revenue, as well as provincial members such as British Columbia Ministry of Finance and Saskatchewan Ministry of Finance. Voting rules follow parliamentary procedures similar to the American Bar Association and mirror governance practices used by organizations like the National Governors Association and the Council of State Governments.
NAUPA advocates model statutes influenced by the Uniform Law Commission and engages with legislative bodies including the United States Senate, United States House of Representatives, and state legislatures from Ohio General Assembly to the Texas Legislature. It files testimony before committees such as the Senate Finance Committee and state budget committees, and provides expert commentary to regulators at the Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and provincial counterparts. NAUPA’s policy positions intersect with privacy and data concerns raised by stakeholders like Electronic Frontier Foundation and consumer groups such as Consumer Reports and AARP.
The association organizes annual conferences, training institutes, and workshops attended by staff from offices such as the Maryland State Archives, Kansas State Historical Society, Library of Congress, and agency representatives from Small Business Administration and Department of the Treasury (United States). Conferences feature panels with representatives from corporations like Google, Amazon (company), Visa Inc., Mastercard, and law firms including Skadden, Arps, Slate, Meagher & Flom, Latham & Watkins, and Baker McKenzie. NAUPA publishes technical manuals and convenes roundtables alongside academic partners such as Columbia Law School, Stanford Law School, and University of Chicago Law School.
NAUPA has faced criticism related to perceived regulatory capture, disputes with corporate interests represented by groups like the American Bankers Association and Securities Industry and Financial Markets Association, and legal challenges involving multistate audits and audits by firms such as Kroll and Ernst & Young. Lawsuits and controversies have invoked courts including the Supreme Court of the United States, United States Court of Appeals for the Third Circuit, and state supreme courts like the California Supreme Court and New York Court of Appeals. Critics from consumer advocacy groups including Public Citizen and Center for Responsible Lending have argued about outreach transparency and due process, while defense is mounted citing precedents from cases in the United States District Court for the District of Columbia and administrative rulings by the Treasury Board of Canada.
Category:Organizations based in the United States Category:Non-profit organizations