Senate Bill 258
146th General Assembly (2011 - 2012)
The General Assembly has ended, the current status is the final status.
AN ACT TO AMEND TITLE 12 OF THE DELAWARE CODE RELATING TO VOLUNTARY DISCLOSURE OF ABANDONED OR UNCLAIMED PROPERTY.
This bill creates an additional incentive for holders of abandoned property to report such property to the state and promptly resolve such claims. Holders not currently reporting any or all amounts or types of abandoned property or already engaged in claims resolution with the State Escheator would be eligible to resolve claims before the Secretary of State in a process that would limit the reporting of abandoned property to 1996 or 1993, rather than the current obligation of holders to report abandoned property back to 1981 or those making voluntary disclosure to report abandoned property back to 1991.
Takes effect upon being signed into law