Executive Life Insurance Company (ELIC) FEC Litigation Trust Escheatment of Outstanding Checks
The ELIC FEC Litigation Trust is a grantor trust established as part of the ELIC Plan of Rehabilitation. The Trust issued checks to ELIC policyholders resulting from funds received from litigation of the ELICís parent company, First Executive Corporation.
In preparation for closing the ELIC FEC Litigation Trust, all outstanding checks have been escheated as of June 3, 2009. This is comprised of 6,355 uncashed checks totaling $898,607.99.
These funds will remain available in perpetuity for those policyholders for which they were intended. The unclaimed property division of each non-California state has been provided both the funds and the information to make available for their residents. For those funds escheated to the State of California, information has been provided to the State Controllers Office and they are corresponding with all owners where the escheated funds are greater than $50. All CA escheated property has been posted on the SCO web site - www.sco.ca.gov. To claim your property between now and December 2009, please mail a completed and signed "CLO California Unclaimed Property Claim Affirmation Form" to the Conservation & Liquidation Office, P.O. Box 26894, San Francisco, CA 94126-0894. If you have any questions with the claim form, contact Willard Roberts, (415) 676-5034, RobertsW@caclo.org. After November 2009 please contact the Department of Insurance, Administration & Licensing Services Branch, Accounting Service Bureau, 300 Capitol Mall, Suite 1400, Sacramento, CA 95814. Contact: Bob Olson, (916) 492-3237, Olsonb@insurance.ca.gov or Frank Carroll, (916) 492-3224, Carrollf@insurance.ca.gov.