Keane's Unclaimed Property Blog

Delaware Enacts Less Controversial Recommendations of its Unclaimed Property Task Force

On January 29, Delaware Governor Jack Markell signed into law Senate Bill 11 which enacts the less controversial recommendations of the Delaware Unclaimed Property Task Force (DETF).   The DETF made nine recommendations in its final report issued in December, 2014.  Senator Bryan Townsend, a co-chair of the DETF was the chief sponsor of SB 11.

New Jersey Unclaimed Property Update: Almost Full Circle for Gift Cards?

Legislation eliminates requirement that gift card issuers/merchants obtain consumer data. On February 5, 2015, New Jersey Governor Chris Christie signed into law Senate Bill 2235 which repeals the otherwise upcoming requirement that gift card issuers/merchants, when selling gift certificates or cards in New Jersey, obtain the name and address of the purchaser (at a minimum the zip code […]

Keane to Host Pennsylvania Unclaimed Property Holder Seminar

The Pennsylvania unclaimed property reporting deadline is fast approaching and recently reduced dormancy periods are in effect. Is your company in compliance and ready to report? Keane invites you to attend our Pennsylvania unclaimed property holder seminar to prepare your company for the upcoming escheat cycle. This is a free educational program providing important unclaimed property […]

Delaware Senator Discusses Reform Bill and Potential Subsequent Legislation

During a Delaware Public Media interview (Radio WDDE 91.1 FM) on January 20, Delaware Senator Bryan Townsend provided insight into Senate Bill 11 (SB 11) which addresses many of the recommendations from the final report of the Unclaimed Property Task Force (UPTF) he co-chaired in Fall 2014.  As co-sponsor of the bill, Townsend indicated that […]

Delaware’s Unclaimed Property Audit Estimation and Extrapolation Practices Challenged Again

In mid-December, 2014, lighting manufacturer Osram Sylvania, Inc. filed an unclaimed property audit-related lawsuit against the Delaware Secretary of the Department of Finance, the Delaware State Escheator and the Delaware unclaimed property audit manager challenging Delaware’s audit estimation and extrapolation practices.

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