Keane's Unclaimed Property Blog

Public Corporations (42 articles)

Through proactive shareholder outreach and location programs, public corporations can improve investor communication and retain at-risk shareholders, while reducing the risk of identity theft, fraud, fines, penalties, and audits. Here you will find best practices and unclaimed property news that impacts public corporations.

Gift Card Escheatment Laws

Abandoned Property, Abandoned Property Law, Compliance, Dormancy Periods, Escheat Law, Escheatment, Gift Card Escheatment, State Escheatment, Unclaimed Property, Unclaimed Property Law, Unclaimed Property Reporting

Update 2019: Are gift cards escheatable? Unfortunately, the answer is not simple as each state and territory have different unclaimed property laws regarding gift cards and the time before escheatment. These differences in state laws impact gift card breakage, the revenue companies gain through unredeemed gift cards. The Electronic Funds Transfer Act and the Consumer […]

Read More ›


Verdict Rendered Against Overstock in Qui Tam Litigation Over Unclaimed Gift Card Balances

Verdict Rendered Against Overstock in Qui Tam Litigation Over Unclaimed Gift Card Balances

Gift Card Escheatment, Litigation

The verdict against Overstock likely means that Delaware will further scrutinize companies utilizing similar giftco structures and could possibly subject them to litigation or audit, even forcing some to re-domesticate outside of Delaware to avoid such scrutiny.  Gift card holders should be overly cautious and be prepared to defend their organizational structures to the state.

Read More ›


Delaware Secretary of State Sending VDA Notices in 2 Weeks

Delaware Secretary of State Sending VDA Notices in 2 Weeks

Compliance, Public Corporations, Unclaimed Property Audit

Keane has received notification from the Delaware Secretary of State’s office that in 2 weeks it will be mailing notices to holders whom it believes to be non-compliant with Delaware escheat law. Holders will have 60 days from mail date to enroll in the SOS VDA program or risk referral to State Escheator for examination. Below is the full text of the notification.

Read More ›


I'm looking for information on...