January 2010 was a busy month for state unclaimed property rules. A major trend across many states, which is a hindrance to corporations and holders, is the reduction in dormancy periods. Recent legislative, regulatory and legal developments that occurred during the month of January 2010 in the areas of unclaimed property law and regulation are […]
Legislative Alerts (185 articles)
Here you can find updates on unclaimed property laws, rules, and regulations. Unclaimed property legislation varies from state to state, and is different depending on the type of property. Check back frequently for legislative alerts and breaking unclaimed property news as it happens.
Keane Unclaimed Property was saddened to hear the news that a long-time friend and colleague in the unclaimed property industry has passed. Dr. Will Yancey was a widely respected expert in unclaimed property statistical analysis and renowned for maintaining the most robust web resource in the field of unclaimed property. He will be missed by […]
Escheatment rules by state, and unclaimed property reporting and compliance in general, are constantly changing, as you have probably noticed. The initial thought is that change complicates matters further, and usually it does. But some states, like Idaho, are giving unclaimed property holders what they need – relief from all the rules. Still, many states […]
This Mississippi bill died in committee but shows how state legislators are proposing changes that make unclaimed property compliance more complicated for corporations. The bill contemplated dormancy period reductions (which would increase the amount of property escheated) as well as a host of fines and penalties. Specific details of the proposal are shared below:
This post is to advise that on 11/23/09, the Arizona Legislature passed SB 1003 reducing dormancy periods for purposes of unclaimed property reporting. The new legislation reduces dormancy periods for all property types by one year, except the dormancy period for travelers checks will be reduced from 15 to 3 years (an amendment is pending […]