Keane's Unclaimed Property Blog

Unclaimed Property Audit (39 articles)

Michigan Proposes to Revise Unclaimed Property Audit Procedures

Michigan Proposes to Revise Unclaimed Property Audit Procedures

Legislative Alerts, Unclaimed Property Audit

On November 1, 2016 Michigan 3791 2015 revised the proposed administrative rules regarding unclaimed property audit procedures and rules, which were originally filed on February 15, 2016. The revised proposal addresses the many intricacies of Michigan unclaimed property audits. Michigan is accepting comments and feedback from the holder community. The deadline to comment on the […]

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Delaware Issues Statement on Temple Inland Decision, Reduces VDA Lookback Periods

Delaware Issues Statement on Temple Inland Decision, Reduces VDA Lookback Periods

Compliance, Unclaimed Property Audit

The Delaware Secretary of State issued a statement regarding the impact of the federal district court’s decision in the Temple Inland case on the VDA program his office administers. Bullock acknowledged that the decision was “critical of several specific actions taken by the State Escheator during the course of that audit,” but indicated that the case is “limited to the specific facts and circumstances of the unclaimed property audit at issue in the case.”

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A Game of Gotcha: Delaware’s Audit Estimation Method Ruled Violation of Due Process

A Game of Gotcha: Delaware’s Audit Estimation Method Ruled Violation of Due Process

Compliance, Unclaimed Property Audit

While seemingly just another Tuesday, the Federal District Court for Delaware determined that Delaware’s audit estimation method and other practices relating to the Temple-Inland examination violated the due process clause of the Fourteenth amendment of the United States Constitution. The decision rendered is a critical one for the unclaimed property holder community.

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