Travelers Express Company, Inc., a Corporation v. Kenneth Cory, Controller of the State of California

SNEED, Circuit Judge:

This appeal raises the question whether either the defense of statute of limitations or equitable estoppel bars the California Controller’s suit to recover unclaimed property under the Uniform Disposition of Unclaimed Property Act, California Code of Civil Procedure §§ 1500 — 1527 (West & West Supp.1981), also known as the Unclaimed Property Law (UPL). 1 The suit grows out of a long running battle between Travelers Express Company and the Controller of California over the disposition of unclaimed money orders. It is but one of many cases in which certain institutional…