Alston & Bird LLP | USA | 4 Sep 2014
On June 27, the United States Court of Appeals for the D.C. Circuit issued an important decision in In re Kellogg Brown & Root, Inc., 14-5055, 2014…
Alston & Bird LLP | USA | 10 Mar 2014
On February 21-22, 2014, the Uniform Law Commission's (ULC) Drafting Committee assigned to engage in a rewrite of the 1995 Uniform Unclaimed Property…
Alston & Bird LLP | USA | 20 Mar 2013
All 50 states and the District of Columbia have enacted, and enforce, laws providing for the reporting and remittance of unclaimed property. Over the…
Alston & Bird LLP | USA | 29 Nov 2012
On July 11, 2012, Delaware Governor Jack Markell signed Senate Bill 258 (S. 258) into law, thereby granting the Secretary of State (as opposed to the State Escheator) a limited three-year window to enter into voluntary disclosure agreements (VDAs) with holders of unclaimed property (the “New VDA Program”).
Alston & Bird LLP | USA | 9 Nov 2012
This advisory addresses two recent developments of particular importance to holders of unclaimed property: (1) Delaware’s promulgation of a regulation impacting the look-back period for unclaimed property audits and (2) the U.S. Supreme Court’s denial of certiorari in the ongoing New Jersey stored value card litigation.
Alston & Bird LLP | USA | 9 Oct 2012
We have learned that Verus Financial, LLC (“Verus”), the contract audit firm recently known for conducting multistate unclaimed property examinations of the insurance industry, has begun to focus its audit activity on companies in the securities/financial products and services arena.
Alston & Bird LLP | USA | 20 Aug 2012
The Consumer Financial Protection Bureau (CFPB) is a federal agency created in 2010 and is tasked with protecting consumers by carrying out federal consumer financial laws.
Alston & Bird LLP | USA | 2 Jul 2012
Last Friday, June 29, 2012, Governor Christie signed into law Senate Bill No. 1928 (S.1928) (which is identical to Assembly Bill No. 3045), which substantially modifies the controversial New Jersey stored value card unclaimed property legislation adopted in 2010 (P.L. 2010, c. 25).
Alston & Bird LLP | USA | 2 Jul 2012
Two significant unclaimed property developments have recently come out of Delaware: (1) the passage of Delaware Senate Bill No. 258 (S.258) and (2) the settlement of the Staples litigation.
Alston & Bird LLP | USA | 24 Jan 2012
On January 5 the U.S. Court of Appeals for the Third Circuit issued its opinion in N.J. Retail Merchants Association v. Sidamon-Eristoff, a case involving the constitutionality of 2010 N.J. Laws Chapter 25 (the New Jersey Act), New Jersey’s recently enacted unclaimed property legislation affecting the treatment of stored value cards (SVCs).