In their 2016 annual meeting on July 13, 2016, the Uniform Law Commission (“ULC”) voted favorably on the revisions to the Uniform Unclaimed Property Act. The ULC’s action is the culmination of almost 3 years of work by a committee of fourteen (14) Commissioners appointed by the ULC. The committee, called the Revisions to the […]
Keane will be co-hosting an unclaimed property seminar with the Arkansas State Auditor’s Office in Little Rock on September 13, 2016. This Arkansas escheatment seminar is an exciting opportunity to expand your understanding of Arkansas unclaimed property laws and regulations while, at the same time, offering you the chance to have your questions and concerns […]
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.
On June 21st, United States Congresswoman Elizabeth Warren (D-MA) and Congressman Steve Daines (R-MT) introduced Senate Bill 3078 which would create the “Retirement Savings Lost and Found Act” (“RSLFA”). The legislation is based on the assertions made in a March 2015 TIAA-CREF Survey Report indicating that of all respondents to the survey, thirty percent (30%) […]
Effective on August 8, 2016, the new law enacts the Missouri Unclaimed Life Insurance Benefits Act and outlines the requirements and procedures that life issuers must follow to proactively determine if insureds are deceased and perform outreach to beneficiaries. Missouri is now the 22nd state to enact similar legislation.