On March 28, 2014, the Pennsylvania Legislature introduced Senate Bill 1293, providing for sweeping reductions of unclaimed property dormancy periods. SB 1293 seeks to reduce the dormancy period across all property types from five to three years.
The West Virginia State Treasury Office Unclaimed Property Division has made a few changes to their National Association of Unclaimed Property Administrators (NAUPA) approved Property Type Code Table. The following unclaimed property type codes have been eliminated: AC11 – Non-Interest Bearing Checking Accounts AC12 – Interest Bearing Checking Accounts AC13 – Non-Interest Bearing Savings Accounts […]
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 […]
Are you interested in learning some of the key concepts of New York escheat and unclaimed property laws? Have a specific question about reporting, auditing or compliance? This page gives you key information pertaining to New York State escheat laws including reporting & compliance.
Arizona State Legislature recently made changes to their Unclaimed Property laws as HB 2023 was passed on April 10, 2012. This new law adds language clarifying that a certificate of deposit cannot be presumed abandoned until after the initial maturity of the CD. Presently, Arizona unclaimed property law states that “a demand, savings or time […]