Tag Archives: State Escheator

Delaware Proposes Unclaimed Property Regulations – No April Fools

On Saturday, April 1, 2017, the Delaware Department of Finance (DOF) promulgated two regulations that would repeal all existing unclaimed property regulations and replace them with a single DOF regulation containing a revised Reporting and Examination Manual. The Secretary of State (SOS) also promulgated a regulation that outlines the method of estimation to be used … Continue Reading

Breaking News: Unclaimed Property Legislation Passes Delaware General Assembly

On January 26, 2017, the Delaware House approved comprehensive unclaimed property rewrite legislation (SB 13) that was passed by the Senate (with committee amendments) last week.  Our summary of many of the key provisions of the bill (as introduced) is available here.  Because the amended version of SB 13 has now passed both chambers of … Continue Reading

Breaking News: Delaware Unclaimed Property Legislation – Lipstick on a Pig?

The Delaware General Assembly has introduced legislation that would significantly rewrite the Delaware unclaimed property statute by repealing the three current subchapters and replacing them with a single unclaimed property subchapter. This article highlights key proposed changes in the bill. Read the full article.… Continue Reading

Straight Outta Delaware: JLI Invest S.A. et al. v. Cook et al.

As soon as we start to think that Delaware’s unclaimed property practices and administration couldn’t possibly get any more egregious, another lawsuit like JLI Invest S.A. et al. v. Cook et al., Case No. 11274 surfaces. The facts alleged in the complaint highlight the fundamental issue of just how much “protection” state unclaimed property laws provide … Continue Reading

Delaware Senate Passes Unclaimed Property Reform Bill

On June 18, 2015, a bill (S.B. 141) was unanimously approved by the Delaware Senate that would place limits on the look-back period and permanently extend the Voluntary Disclosure Agreement (VDA) program. This represents the second bill this year that seeks to implement the recommended changes contained in the Unclaimed Property Task Force’s (Task Force) … Continue Reading
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