patrick.net

Yah it’s a terrible idea because:
1) Safety deposit boxes would be immediately worthless. Banks won’t like that as this is a source of revenue for them. Look to the banks to lobby against this.
2)if the law passes, people with money in their safety boxes will just empty them before it goes into effect and hide it elsewhere, like outside of Italy where their government can’t steal it. Or a coffee can buried in the backyard. Or cut a hole in the drywall and put money in, then seal it up. Lots of Eastern Europeans still do that kind of thing. Money is pretty easy to hide.

I think Mr. Taylor's stock certificate was in his safe deposit box in California. Didn't even matter. Welcome to California, Hipsters.

from the linked file, "...Neither of these plaintiffs were really hard to find, nor did they mean to abandon their property.   Chris Taylor acquired his stock in Intel because he worked for Intel for a number of years.   His wife was general counsel for Intel in Europe.   Intel corresponds with him regarding his stock and his pension fund and knows his address.   He still has his original stock certificates, but the Controller has rendered them worthless by getting duplicate stock certificates and selling the shares...."

https://caselaw.findlaw.com/us-9th-circuit/1009832.html

California will do anything for more money, and stealing from its residents is the primary method.