Unclaimed Property and Corporate Compliance News

Happy Independence Day

US FlagsBarganier and Associates will be closed on Friday, July 4, 2014, in observance of Independence Day. We hope that everyone has a safe weekend, full of family and friends.

Barganier will resume normal business hours on Monday, July 7, 2014.

SB 228 Heads to Governor

Update: The bill was signed by Governor Markell on June 30, 2014

The Delaware House passed Senate Bill 228 yesterday and it now awaits Governor Markell's signature. SB 228 has several key provisions for holders, including a confidentiality requirement and a limit on penalties. It also would extend the Secretary of State VDA program by one year.

Revisiting Data Collection Requirements in New Jersey

Legislative Update: SB 2235 passed the Senate unanimously on June 30, 2014. The bill was assigned to the Assembly Consumer Affairs Committee on July 11, 2014.

New York Looking to Add to Auditor Staff

The New York State Comptroller is currently advertising for two new abandoned property senior auditors. The positions' job is to perform "audits and reviews in accordance with applicable standards to ensure that holders are in compliance with the New York Abandoned Property Law." Specifically, the jobs duties description says that the auditor:

Delaware Senate Passes Resolution to Create Task Force on Unclaimed Property

BoardroomThe Delaware Senate has passed a resolution that would create a task force to study unclaimed property. The resolution, Senate Concurrent Resolution Number 59, says that a significant number of companies domiciled in Delaware have not met their responsibilities under law to escheat unclaimed property to the State.

New Delaware Case Challenges Kelmar's Extrapolation Methodology

Photo by smokedsalmon on FreeDigitalPhotos.netDelaware is the subject of another unclaimed property lawsuit, by a holder with a history of compliance, and despite the lawsuit, the audit is not yet completed.

Tax Analysts Looks at Unclaimed Property

Today, Tax Analysts' Maria Koklanaris reports on unclaimed property in SALT Practitioners Stepping In as States Get More Aggressive With Unclaimed Property. The article, in which Barganier and Associates, LLC's founder Patricia Barganier Thorn is quoted, looks at some of the developments in unclaimed property over the past few years.

Some of the highlights include:

Have a Safe and Happy Memorial Day

In observance of the holiday on Monday, Barganier and Associates will be closed on Monday, May 26, 2014. We will re-open on Tuesday, May 27, 2014, for normal business hours.

Thank you to all the soldiers and their families that have served this great country. We appreciate your service.

NAST Treasury Management Symposium 2014

National Association of State TreasurersEvery spring the National Association of State Treasurers hosts a Treasury Management Training Symposium. This year's Symposium was held in Orlando, Florida last week. The unclaimed property track brings together state administrators, auditors and vendors for a week of educational panels and seminars. Barganier and Associates, a corporate affiliate of NAST, attends every year to provide insight from the holders perspective.

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