Keane's Unclaimed Property Blog
Alabama Passes HB 192: Amends Unclaimed Life Insurance Benefits Law
On May 8, 2013, the Governor of Alabama signed House Bill 192 into law. This bill amends the Unclaimed Life Insurance Benefits Law passed in Alabama last year. The previous law required Life Insurers to commence comparing their in-force policies to the Social Security Death Master File for the first time beginning June 1, 2014 and to … [ read more ... ]
Keane to Host Unclaimed Property Seminar for Attorneys
Attention attorneys in the greater New York area – on Thursday, June 6th Keane will be hosting the first of its summer unclaimed property seminars in New York, NY. This particular seminar will focus on what attorneys need to know about unclaimed property matters. When companies have questions on unclaimed property obligations or receive an … [ read more ... ]
North Dakota Amends Unclaimed Property Act with New Insurance Law
On April 26, 2013, the Governor of North Dakota signed HB 1171, enacting a new law relating to unclaimed life insurance benefits. In addition to the new unclaimed life insurance law being signed into law, the enacted version of the bill amends the life insurance provisions contained within the North Dakota Unclaimed Property Act to be … [ read more ... ]
CFPB Issues Decision on Federal Preemption of State Gift Card Laws
On April 19th, the Consumer Financial Protection Bureau (CFPB) issued a formal determination on whether certain state unclaimed property laws as they apply to gift cards, are subject to federal preemption. At issue were the unclaimed gift card laws in place in Maine and Tennessee. The CFPB’s consideration and determination were the result of requests … [ read more ... ]
Alabama Unclaimed Property Reporting Update
The Alabama unclaimed property reporting process will be slightly different this coming fall, as HB 112 was signed into law on April 18, 2013. This bill addresses several unclaimed property issues, including the filing of unclaimed property reports, due diligence, and banking property. Highlights of the bill are as follows: Alabama Unclaimed Property Reporting Changes … [ read more ... ]
