Keane's Unclaimed Property Blog

Legislative Updates (31 articles)

Complexity of California Unclaimed Property Reporting Procedures Generates Questions

Abandoned Property, Legislative Updates, State Escheatment, Unclaimed Property Reporting

We regularly receive questions from California companies and others regarding how the California unclaimed property reporting process works. Below is a brief summary of what is required. California unclaimed property reporting rules have been confusing holders since August 24, 2007, when then-governor Arnold Schwarzenegger signed SB 86. Among other measures, this legislation included a provision […]

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Proposed Unclaimed Property Laws Could Affect Tennessee Businesses

Abandoned Property, Abandoned Property Law, Legislative Alerts, Legislative Updates, State Escheatment, Unclaimed Property, Unclaimed Property Law, Unclaimed Property Reporting

As states become more aggressive with abandoned property laws and guidelines, they continue to make changes to legislation in an effort to generate more revenue. On September 30, Tennessee proposed new administrative rules for unclaimed property that if passed will directly affect businesses operating in the state. The proposed changes apply to Organizations and Individuals […]

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Cayman Island’s Unclaimed Property Law Causes Uproar

Abandoned Property, Abandoned Property Law, Dormancy Periods, Escheat Law, Escheatment, Legislative Updates, Unclaimed Checks, Unclaimed Property Law, Unclaimed Property Reporting

With reporting deadlines occurring at the end of this month, we are constantly keeping abreast of issues involving unclaimed property and dormant accounts—even ones occurring outside the United States. A recent article caught our attention from CaymanNewsService titled “Law fundamentally ‘flawed’” as it raised some unclaimed property law issues that have and continue to occur […]

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Michigan HB 6421 – Passes the Senate with Proposed
Reductions in Unclaimed Property Dormancy Period

Dormancy Periods, Gift Card Escheatment, Legislative Alerts, Legislative Updates, Money Orders, Travelers Checks, Unclaimed Property, Unclaimed Property Reporting

Michigan’s new reporting bill, HB 6421 – introduced on September 8th, passed the Senate yesterday, September 23rd, 2010 with a solid vote of 461 to 36. It has been ordered to be enrolled for the Governor’s desk. For your reading convenience, details are summarized below:

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