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Alston & Bird Unclaimed Property

About Alston & Bird Unclaimed Property

We assist our clients in analyzing complex legal issues, obtaining legal opinions, conducting multistate/multi-entity internal compliance reviews, designing corporate compliance policies, advising on planning and related restructurings, negotiating voluntary disclosure agreements, defending single-state and multistate audits, litigating unclaimed property issues and influencing unclaimed property policy and administration.

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Litigate, Legislate and Repeat: The Delaware Escheat Law Spin Cycle

June 7, 2022 By Alston & Bird Unclaimed Property

Our Unclaimed Property Team reviews Delaware SB 281, which would grant additional power to the State Escheator. This bill: Attempts to clarify Delaware’s unclaimed property laws. Codifies practices the State Escheator implemented after the enactment of 2021’s SB 104. Has the potential to trigger additional holder and owner litigation. Read the full advisory here. [...]Read more

Filed Under: Unclaimed Property Advisory Tagged With: Delaware, Delaware Escheat Law, SB 104, State Escheator, Unclaimed property, unclaimed property laws

Unclaimed Property Advisory: New York Puts Coal in Gift Card Issuers’ Stockings with New Rules

December 14, 2016 By Alston & Bird Unclaimed Property

Our Unclaimed Property Group explains how, effective December 25, New York will further restrict gift card service fees, limit card expiration dates and require additional terms and conditions to be clearly and conspicuously stated.

Read the full advisory here.

Filed Under: Unclaimed Property Advisory Tagged With: Federal Card Act, Gift cards, gift certificates, New York, Section 396-i, service fees, Unclaimed property

Dead or Alive in West Virginia: Must Life Insurance Companies Search for Due Proof of Death?

April 13, 2015 By Alston & Bird Unclaimed Property

On April 8, 2015, the Supreme Court of Appeals of West Virginia heard oral arguments for Perdue v. Nationwide Life Insurance Company, et al. with regard to whether life insurance companies are statutorily obligated to search the Death Master File (DMF) for purposes of determining whether the dormancy period has been triggered on life insurance proceeds.  In the latest in a series of skirmishes involving life insurance companies and state unclaimed property administrators, the state supreme court has to decide whether the West Virginia unclaimed property laws – which do not explicitly require [...]Read more

Filed Under: Unclaimed Property Advisory

Temple-Inland District Court Denies Delaware’s Motion to Dismiss — Looks Good for Temple-Inland and Holders

March 12, 2015 By Alston & Bird Unclaimed Property

The District Court of Delaware signals Temple-Inland and other unclaimed property holders are likely to prevail on constitutional grounds against the Delaware Escheats Law. The decision may also have a meaningful impact on other holders that are domiciled in Delaware and are currently under audit or participating in a voluntary disclosure program with the state. However, the court also held that that the Texas Cases’ priority rules do not apply in disputes between private parties and states. Read the full advisory. [...]Read more

Filed Under: Unclaimed Property Advisory Tagged With: Unclaimed property

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Recent Posts

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