Announcements or discussions on unclaimed property legislative changes

South Dakota Shortens Dormancy Periods

The governor of South Dakota has signed H.B. 1270 into law, effective 7/1/2012. The bill reduces dormancy for almost all property types from 5 years to 3 years. Click here to view the legislation. Update: I have checked with the state of South Dakota and verified this will not affect 2012 reporting. South Dakota will […]

Danielle Herring

Product Manager, UPExchange

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Delaware Introduces Due Diligence Letter Requirements

Delaware has never had requirements for sending out due diligence letters, until now. Regulation 965 has been passed and is effective March 31st, 2012. In short, holders with securities related property valued at $250 or more are required to send due diligence letters. The letters must be sent first class mail at least 60 days […]

Danielle Herring

Product Manager, UPExchange

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California Law Changes Effective 1/1/2012

California has passed SB 495. This caused changes to the unclaimed property law, including rules for escheating intangible personal property held by fiduciaries. Keane has a great summary of the changes in their latest newsletter. You can view the newsletter here. Keane releases their newsletter quarterly. I would recommend you sign up to receive the […]

Danielle Herring

Product Manager, UPExchange

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