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Keanotes

Looking for escheat laws for each state? Get started with our guide to state unclaimed property laws.

Subscribe to Keanotes®: Stay Up to Date with Unclaimed Property News, Laws and Trends

Keanotes Summer 2018 IssueEscheat laws by state can be difficult to keep track of, as no two states interpret unclaimed property in the same way. State escheatment laws can differ based on a variety of factors, including property type, dormancy period, and compliance requirements, among other factors.

Keanotes®, our industry leading compliance journal, eases the burden of tracking the various escheat laws by state by providing an in-depth view and analysis of unclaimed property regulations and state escheatment laws. Keanotes also includes editorial coverage of ongoing legislation changes, legislative summaries of escheat rules by state, guest columnists from state and industry professionals, Q&A sessions, continuous interpretation and recommendations to effectively comply with unclaimed property laws while increasing your company’s bottom line.

The compliance experts at Keane can help to keep you up to date the various escheat laws by state by providing real-time alerts when significant changes are made to unclaimed property regulations and state escheatment laws. Subscribers to Keane’s Unclaimed Property Compliance Portal will also receive access to view additional details on the legislative change, including a summary of the legislation and an analysis of its impact.

Click on the button below to register for Keanotes®. You’ll receive a notification when new issues are published and real-time alerts for changes in escheat laws by state. For information on subscribing to Keane’s Unclaimed Property Compliance Portal, please visit www.keanecompliance.com.

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Contents of Latest Issue

Starting from the Ground Up: Building an Unclaimed Property Compliance Program

By Joe Lichty, Director of Marketing

In our experience, individuals tasked with bringing their organization into compliance for the first time are best suited by implementing a comprehensive program for unclaimed property, serving as the foundation for ongoing escheat reporting and compliance efforts. This article will detail the milestones associated with building a solid foundation for compliance.

Delaware’s VDA Program and Its Influence Regarding Ongoing Compliance

By Ann Fulmer, National Consulting Practice Leader, and Brian McCarthy, Senior Manager

Now that hundreds of companies have completed the Delaware Secretary of State’s Voluntary Disclosure Agreement (“VDA”) Program, issues regarding their demonstration of ongoing compliance are creating some unique challenges.

Balancing Act: How Financial Institutions Can Turn a Compliance Obligation into a Revenue Opportunity

By Joe Lichty, Director of Marketing

This article details best practices and proactive measures banks and credit unions may take to ensure compliance and reduce risk – but also improve customer retention and more easily grow business.

Proposed California Voluntary Disclosure Agreement Program

By Heather Gabell, J.D., Director of Compliance and Barbara Rice, State Compliance Liaison

New legislation was introduced in California that would have directed the Controller to establish a voluntary disclosure agreement (“VDA”) program. Though this bill ultimately died in committee, holders are optimistic that California will eventually establish a VDA program.

Kentucky Latest to Enact RUUPA-Like Legislation

By Heather Gabell, J.D., Director of Compliance

With the passage of KY H 394, Kentucky becomes the latest state to pass a new unclaimed property law based on the 2016 Revised Uniform Unclaimed Property Act (“RUUPA”).

Is There a Trend Toward True Escheat?

By Heather Gabell, J.D., Director of Compliance and Debbie L. Zumoff, J.D., Chief Compliance Officer

Three pieces of legislation presented thus far in 2018 may be indicative of a possible trend by the states towards permanent escheat. These bills represent a marked departure from the ultimate goal and custodial nature of the states’ consumer protection laws, which is to reunite owners with their lost or abandoned property.

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