Representatives from the American Bar Association (ABA) have indicated that it intends to move forward with the drafting of a new unclaimed property model act that would serve as a clear alternative to the Revised Uniform Unclaimed Property Act (RUUPA) drafted by the Uniform Law Commission.
Unclaimed Property Law (45 articles)
Despite denying the writ of certiorari for Taylor v. Yee, Supreme Court Justices Samuel Alito and Clarence Thomas noted in their concurring opinion that future cases may warrant a review of state escheat and unclaimed property laws. A history of the case since its inception is outlined below.
On January 29, Delaware Governor Jack Markell signed into law Senate Bill 11 which enacts the less controversial recommendations of the Delaware Unclaimed Property Task Force (DETF). The DETF made nine recommendations in its final report issued in December, 2014. Senator Bryan Townsend, a co-chair of the DETF was the chief sponsor of SB 11.
Legislation eliminates requirement that gift card issuers/merchants obtain consumer data. On February 5, 2015, New Jersey Governor Chris Christie signed into law Senate Bill 2235 which repeals the otherwise upcoming requirement that gift card issuers/merchants, when selling gift certificates or cards in New Jersey, obtain the name and address of the purchaser (at a minimum the zip code […]
During a Delaware Public Media interview (Radio WDDE 91.1 FM) on January 20, Delaware Senator Bryan Townsend provided insight into Senate Bill 11 (SB 11) which addresses many of the recommendations from the final report of the Unclaimed Property Task Force (UPTF) he co-chaired in Fall 2014. As co-sponsor of the bill, Townsend indicated that […]