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.
Dormancy Periods (24 articles)
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 […]
The escheatment of banking property in South Dakota may increase as HB 1270 was signed into law by Governor Dennis Daugaard. The dormancy period for banking properties was reduced from five to three years, making South Dakota the 22nd state since 2007 to pass legislation reducing dormancy periods. To recap, the following types of unclaimed property […]
Dormant bank accounts are the focus as another U.S. territory puts an unclaimed property law on its books. On February 6, 2012, the Commonwealth of the Northern Mariana Islands (CNMI) enacted a new law called the Escheat Act of 2011. The new law increases the number of U.S. unclaimed property reporting jurisdictions to 55. CNMI […]
Unclaimed Property laws are complex and often difficult for holders to interpret. This complexity also makes the unclaimed property laws challenging to enforce. However, as states continue to closely monitor their budgets and look increasingly to unclaimed property as a source of revenue, once-previously overlooked provisions are now being enforced in an effort to increase […]