Keane's Unclaimed Property Blog

Unclaimed Property Law (45 articles)

Escheatment Audit: Kelmar Associates Increasing Focus on Equity & Debt-Related Property in Enforcement Audits

Escheat Audits, Unclaimed Property Law

Kelmar Associates has been retained as the third-party auditor initiating a recent surge in multi-state examinations that has taken place in recent weeks. These unclaimed property audits of public corporations are specific in scope to securities or equity-related property. During this period of increased audit activity, audit notices on behalf of multiple states were sent directly to an individual at the issuer/holder or to representatives at the relevant commercial stock transfer agent.

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Delaware Enacts Less Controversial Recommendations of its Unclaimed Property Task Force

Compliance, Legislative Alerts, Unclaimed Property Law

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.

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New Jersey Unclaimed Property Update: Almost Full Circle for Gift Cards?

Legislative Alerts, Unclaimed Property Law

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 […]

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