and the
beneficiaries were resident at the maturity date of the policies, a New
York Abandoned Property Law requiring payment to the State of money
owing by life insurers and remaining unclaimed for seven years does not
deprive such foreign companies of property without due process. The
relationship between New York and its residents who abandon claims
against foreign insurance companies, and between New York and foreign
insurance companies doing business therein is sufficiently close to give
New York jurisdiction.[434] In Standard Oil Co. _v._ New Jersey,[435] a
sharply divided Court held recently that due process is not violated by
a statute escheating to the State shares of stock in a domestic
corporation and unpaid dividends declared thereon, even though the
last-known owners were nonresidents and the stock was issued and the
dividends were held in another State. The State's power over the debtor
corporation gives it power to seize the debts or demands represented by
the stock and dividends.

Vested Rights, Remedial Rights, Political Candidacy

Inasmuch as the right to become a candidate for State office is a
privilege only of State citizenship, an unlawful denial of such right
is not a denial of a right of "property."[436] However, an existing
right of action to recover damages for an injury is property, which a
legislature has no power to destroy.[437] Thus, the retroactive repeal
of a provision which made directors liable for moneys embezzled by
corporate officers, by preventing enforcement of a liability which
already had arisen, deprived certain creditors of their property without
due process of law.[438] But while a vested cause of action is property,
a person has no property, in the constitutional sense, in any particular
form of remedy; and is guaranteed only the preservation of a substantial
right to redress by any effective procedure.[439] Accordingly, a statute
creating an additional remedy for enforcing stockholders' liability is
not, as applied to stockholders then holding stock, violative of due
process.[440] Nor is a law which lifts a statute of limitations and make
possible a suit, theretofore barred, for the value of certain
securities. "The Fourteenth Amendment does not make an act of State
legislation void merely because it has some retrospective operation.
* * * Some rules of law probably could not be changed retroactively
without hardship and oppression, * * *, certainly it cannot be said tha