14 Critical Questions You Must Ask Before Each Escheat Reporting Season.Get the full list here.
Oil & Gas, Unclaimed Property Audit
US Court of Appeals reverses US District Court’s dismissal of Plains All American Pipeline’s procedural due process claim against Delaware & Kelmar Associates. On August 9, 2017, almost a year after the U.S. District Court for the District of Delaware dismissed a case brought by Plains All American Pipeline LLC (“Plains”) against Delaware for its […]
Compliance, Legislative Alerts
The Delaware Department of Finance and the State Escheator issued a new round of proposed regulations, once again taking the form of an “Unclaimed Property Reporting and Examination Manual.” Though similar in form and substance to the Examination Manual as introduced in April, this latest version includes several noteworthy revisions.
Compliance, Public Corporations
Many companies rarely, if ever, view themselves as the rightful owner of unclaimed or abandoned property. However, businesses make up the largest share of owners entitled to the estimated $40-50 Billion in unclaimed assets currently held by state and municipal governments and treasuries. This post will offer guidance on how businesses may prepare to recover assets owed to their organization.
Compliance, Legislative Alerts
North Carolina due diligence requirements have changed as a result of the passing of House Bill 294 on July 20, 2017, adding new rules for holders as well as new powers for the state as a custodian of escheated property.
Escheat Audits, Unclaimed Property Law
Kelmar Associates has been retained as the third-party auditor initiating a recent surge in multi-state examinations that has taken place in recent weeks. These unclaimed property audits of public corporations are specific in scope to securities or equity-related property. During this period of increased audit activity, audit notices on behalf of multiple states were sent directly to an individual at the issuer/holder or to representatives at the relevant commercial stock transfer agent.
