The Legislative Analyst’s Office (LAO), published “Increasing Compliance with Unclaimed Property Law” on March 15, 2019.1 This report brings to light the lack of holders’ compliance with California unclaimed property law. Per the California State Controller’s Office (SCO), holder compliance is only at approximately 2%. “There are two reasons for this: (1) they are unaware […]
Below is a map of states that currently have passed or proposed legislation to adopt policies similar to the Unclaimed Life Insurance Benefits Act. We will continue to update this map as additional states propose or pass similar legislation.
Delaware is sending voluntary disclosure agreement invitations to holders believed to be out of compliance with its unclaimed property laws. In a slight change in policy, Delaware indicated that any holders that choose not to enroll in the VDA program will be audited.
At Keane, our top priority is ensuring the security of our customers’ information. On a continual basis, we diligently track unclaimed property scams, consumer complaints, and concerns about the legitimacy of our business. There are some legitimate unclaimed property tracers and finders that reach out to owners or heirs whose assets have already been turned […]
Compliance, Litigation, Unclaimed Property Audit
Univar alleges that the unclaimed property audit spearheaded by Kelmar violates a number of its constitutional rights, including substantive and procedural due process rights, the right to equal protection and the right to be free from unreasonable searches and seizures, and that it constitutes a taking of private property without just compensation.
