The securities proposed regulation defines “Securities and Related Property” as property that consists of: Intangible ownership interests in corporations, whether or not represented by a stock certificate, bonds, and other securities; Dividends, cash, stock and other distributions made (or attempted to be made) by issuers of securities in respect of the securities ...
Continue
Posts for Alerts | 
RSS Feed for Alerts
Delaware Proposes Regulation for Certain Securities and Related Property
Alerts, ONESOURCE, Unclaimed Property 0 CommentPosted on February 1, 2012
Third Circuit Provides Guidance on New Jersey Gift Card and Travelers Checks Unclaimed Property Revisions
Alerts, Best Practices, Unclaimed Property 0 CommentPosted on January 23, 2012
Litigation was brought against New Jersey to challenge various aspects of the New Jersey legislation - 2010 N.J. Laws, Chapter 25 - that attempts to retroactively require reporting of gift cards/stored value cards (“SVCs”) to impose a “place of purchase presumption” for reporting of SVCs, and to significantly reduce the ...
Continue
ONESOURCE Unclaimed Property Webinar: To Escheat or not to Escheat…It’s not a Question, it’s the Law
Alerts, Audit Assistance, Best Practices, Compliance, ONESOURCE, Risk Assessment, Unclaimed Property 0 CommentPosted on January 4, 2012
Join Thomson Reuters on January 10, 2012 at 12:30pm CST (1:30 EST) as ONESOURCE Unclaimed Property experts cover: Background on unclaimed property law Risks associated with failing to comply with unclaimed property laws and case stuides State trends including audit activity, interest assessments, and reductions of dormancy periods Unclaimed property annual reporting requirements Unclaimed property ...
Continue
Michigan Provides VDA Window of Opportunity but Window Closes January 31, 2012 – Act Quickly!
Alerts, Unclaimed Property, Voluntary Disclosure 0 CommentPosted on December 5, 2011
Michigan just announced on their website that holders have an opportunity to take advantage of a Voluntary Disclosure Program (“VDP”) for a limited period. Specifically, the Michigan State Treasurer’s Office (“Treasurer”) has stated that “…entities that have not previously reported or have underreported unclaimed property in the past” have an ...
Continue
Illinois Unclaimed Property Law Signed
Alerts, Unclaimed Property 0 CommentPosted on August 11, 2011
H.B. 1560 was signed into law by Illinois Governor Pat Quinn on Monday, August 8, 2011. The law lowers the dormancy period for unclaimed wages, payroll, and salary - in any form - to one (1) year. It was previously 5 years. This legislation became effective immediately. ONESOURCE Unclaimed Property at ...
Continue
NV S.B. 136 Signed with Provision Not Originally Introduced
Alerts, Unclaimed Property 0 CommentPosted on June 29, 2011
Nevada S.B. 136 was signed by the Governor with an effective date of June 16, 2011, and includes provisions not originally introduced in the bill. The most urgent issue adversely affects holders who have reported more than $10 million of property on its most recent report to Nevada. In this situation, ...
Continue
Oregon SB 756 Amends Existing Gift Card Law
Alerts, Unclaimed Property 0 CommentPosted on June 27, 2011
Oregon SB 756 relating to gift cards was signed by the Governor on June 22, 2011, with an effective date of January 1, 2012. It amends their existing gift card law by adding the following restrictions: A person may not sell a gift card … D) that does not give the cardholder ...
Continue
NC HB 692 Effective for Fall Unclaimed Property Reporting Period
Alerts, Unclaimed Property 0 CommentPosted on June 27, 2011
On June 23, 2011 the Governor of North Carolina signed House Bill 692 to become effective October 1, 2011. This will make it effective for the Fall Reporting period. North Carolina H.B. 692 requires holders to report the following for each item: • Name • Last Known Address • Social Security Number or Taxpayer ...
Continue
On Friday, June 17, 2011, the Texas Governor signed H.B. 257 into law. It lowers the dormancy period for utility deposits to 18 months; money orders to 3 years, checking/savings deposit accounts and CD's to 3 years. The new law also allows the Texas Comptroller to sell securities on receipt ...
Continue
Breaking Developments: State Insurance Regulators Focus on Unclaimed Property
Alerts, Unclaimed Property 0 CommentPosted on April 28, 2011
Three key regulatory events have occurred in the past week. These events drastically change the landscape with respect to future unclaimed property compliance efforts. First, insurance regulators in Florida and California have issued subpoenas and are holding hearings to investigate industry wide practices into how life insurers handle unclaimed property. Second, ...
Continue
Alert: Indiana Unclaimed Property – New Enforcement Efforts
Alerts, Unclaimed Property 0 CommentPosted on March 24, 2011
ALERT: Indiana Unclaimed Property - New Enforcement Efforts Earlier this month, Indiana sent formal letter notices indicating that fines could apply under Indiana law for failure to timely report and remit unclaimed property. Some of the letters suggested that monetary penalties were being assessed, and attached invoices. The letters indicated that ...
Continue
