H.R. 2443, the Equitable Escheatment Act of 1993: Hearing Before the Subcommittee on Financial Institutions Supervision, Regulation, and Deposit Insurance of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Third Congress, Second Session, March 22, 1994, Volume 4 |
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Page 4
... securities firms are located within their borders . It is as legitimate as other States ' benefits from the industries that tend to be concentrated in those States examples being the oil and gas industry , the automobile in- dustry ...
... securities firms are located within their borders . It is as legitimate as other States ' benefits from the industries that tend to be concentrated in those States examples being the oil and gas industry , the automobile in- dustry ...
Page 5
... brokerage firms , and that this somehow would be unfair . " Nothing is further from the truth . The Supreme Court held New York must disgorge the funds it wrongfully seized , and the Special Master carefully considered and rejected New ...
... brokerage firms , and that this somehow would be unfair . " Nothing is further from the truth . The Supreme Court held New York must disgorge the funds it wrongfully seized , and the Special Master carefully considered and rejected New ...
Page 11
... brokers , and other financial institutions will have to be given up under H.R. 2443 , and these will have to be ... firm who have mounted a full court lobbying effort on this bill . Why ? Because they have a contingency fee basis . If this ...
... brokers , and other financial institutions will have to be given up under H.R. 2443 , and these will have to be ... firm who have mounted a full court lobbying effort on this bill . Why ? Because they have a contingency fee basis . If this ...
Page 23
... firms . This situation is unfair because giving money to the State where the brokerage firm is incorporated does not reflect where the funds originated or who owns them . Here is how the bill would change that rule and make the ...
... firms . This situation is unfair because giving money to the State where the brokerage firm is incorporated does not reflect where the funds originated or who owns them . Here is how the bill would change that rule and make the ...
Page 32
... securities are held in street names , it is the financial institution that is ulti- mately responsible for them and must ... firms get the use of the money where they cannot find the unknown owner . That float goes to people who hold the ...
... securities are held in street names , it is the financial institution that is ulti- mately responsible for them and must ... firms get the use of the money where they cannot find the unknown owner . That float goes to people who hold the ...
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Common terms and phrases
abandoned property ARNOLD & PORTER Attorney beneficial owner bill bond brokerage firms brokers California Chairman NEAL claims clearing firms companies CONGRESS THE LIBRARY constitutional contingency fee CUSIP customers decision Delaware and Massachusetts depositories disgorge dispute dividend dividends and interest due process EASLEY enacted Equitable Escheatment Act escheat laws fair February 16 federal final judgment financial institutions FINANCIAL INSTITUTIONS SUPERVISION financial intermediaries firms and banks Gibbons Governor CARPER Governor RICHARDS Honorable incorporated interest payments Intervenors issue issuer last-known address Law Firm LAW REVIEW legislation LIBRARY OF CONGRESS litigation located March 22 Merrill Lynch million Missouri money order municipal bonds negotiations North Carolina owner-unknown paid percent primary rule principal executive offices received retroactive SCHUMER securities industry separation of powers settlement proposal Special Master statute Supreme Court taxpayers Texas Treasurer U.S. Supreme Court unclaimed distributions unclaimed dividends unclaimed securities distributions unconstitutional unfair unknown Washington York and Delaware
Popular passages
Page 216 - ... minimum contacts" between the defendant and the forum State. The concept of minimum contacts, in turn, can be seen to perform two related, but distinguishable, functions. It protects the defendant against the burdens of litigating in a distant or inconvenient forum. And it acts to ensure that the States through their courts, do not reach out beyond the limits imposed on them by their status as coequal sovereigns in a federal system.
Page 132 - The Honorable Henry B. Gonzalez Chairman, Committee on Banking, Finance and Urban Affairs House of Representatives This report discusses issues associated with reforming the deposit insurance system.
Page 320 - Federal regulation of future action based upon rights previously acquired by the person regulated is not prohibited by the Constitution. So long as the Constitution authorizes the subsequently enacted legislation, the fact that its provisions limit or interfere with previously acquired rights does not condemn it. Immunity from federal regulation is not gained through forehanded contracts. Were it otherwise the paramount powers of Congress could be nullified by 'prophetic discernment' The rights acquired...
Page 231 - Looking at the clause in which the terms "compact" or "agreement" appear, it is evident that the prohibition is directed to the formation of any combination tending to the increase of political power in the states, which may encroach upon or interfere with the just supremacy of the United States.
Page 183 - In witness whereof, the parties have executed this agreement as of the day and year first above written.
Page 124 - Mr. Chairman, thank you very much for giving me the opportunity to testify on my bill, HK 1-2438, the Horse Protection Act.
Page 309 - US 683] *We realize that this case could have been resolved otherwise, for the issue here is not controlled by statutory or constitutional provisions or by past decisions, nor is it entirely one of logic. It is fundamentally a question of ease of administration and of equity. We believe that the rule we adopt is the fairest, is easy to apply, and in the long run will be the most generally acceptable to all the States.
Page 4 - I am not a member of this subcommittee. I am a member of the full committee.
Page 256 - ... Corps to provide healthful outdoor training and employment for young men and to advance the conservation, development, and management of national resources of timber, soil, and range, and of recreational areas ; and be it further Resolved, That the Secretary of the Senate is hereby directed to transmit a copy of this resolution to the Vice President of the United States, to the Speaker of the House of Representatives, and to each Senator and Representative from California in the Congress of the...
Page 334 - James Crawford, Hold Your Tongue: Bilingualism and the Politics of "English Only" (Reading, Mass.: Addison-Wesley, 1992), 1-3.