Posts Tagged ‘Unclaimed Property’
When it comes to unclaimed property overreach, when is far too far?
In early June, the Indiana Supreme Court ruled in favor of Tyson Timbs, finding that the state’s seizure of the convicted drug dealer’s infamous Land Rover amounted to an excessive fine, which was therefore unconstitutional. We first brought the Timbs v. Indiana case to the attention of the unclaimed property community in April 2019, drawing…Read More
The SCRA and Securities: Protecting the Protectors
This article originally appeared in the January Newsletter of the Securities Transfer Association and is re-published here with the consent of the STA. It has been updated to reflect the April 7, 2020 enactment of SB-0125. by Jennifer C. Borden On April 7, SB-0125 was signed by the Governor of Michigan, clarifying the dormancy periods…Read More
Borden's views on reform of Uniform Unclaimed Property Law featured in STA newsletter
In March a federal court issued a bombshell decision in the unclaimed property world, denying Delaware’s motion to dismiss an action challenging many aspects of the state’s audit program. Fortune 1000 companies who have suffered through lengthy audits and seven-figure demands rejoiced at the prospect of a trial in which Delaware’s practices will be reviewed objectively.Read More