Surprise changes were made to the Pennsylvania Unclaimed Property Act as House Bill 1605 was amended, passed by both the House and Senate, and signed into law on July 13, 2016. The bill not only adds due diligence requirements, but also repeals the statutory requirements addressing IRAs that were enacted in 2014 and replaces them with novel provisions not used in any other state.
Office Depot and NACCS allege that Delaware’s initial document request (“IDR”) was overly broad and included irrelevant information; particularly information pertaining to purported unclaimed gift cards that may be due or was reported to states other than Delaware.
In their 2016 annual meeting on July 13, 2016, the Uniform Law Commission (“ULC”) voted favorably on the revisions to the Uniform Unclaimed Property Act. The ULC’s action is the culmination of almost 3 years of work by a committee of fourteen (14) Commissioners appointed by the ULC. The committee, called the Revisions to the […]
Keane will be co-hosting an unclaimed property seminar with the Arkansas State Auditor’s Office in Little Rock on September 13, 2016. This Arkansas escheatment seminar is an exciting opportunity to expand your understanding of Arkansas unclaimed property laws and regulations while, at the same time, offering you the chance to have your questions and concerns […]
While seemingly just another Tuesday, the Federal District Court for Delaware determined that Delaware’s audit estimation method and other practices relating to the Temple-Inland examination violated the due process clause of the Fourteenth amendment of the United States Constitution. The decision rendered is a critical one for the unclaimed property holder community.