Delaware Secretary of State Issues RFP to Help Administer New VDA Program
Posted on Jul 2, 2012 by JMS Advisory Group |
There has been much talk lately about Delaware SB258, which will create a new Voluntary Disclosure Program administered by the Delaware Secretary of State. The bill passed both chambers of the legislature before the end of the session, but as of today, there has been no public announcement that the bill has been signed by the Governor. Look for more postings on this blog regarding the bill itself and the parameters of the new VDA Program once that is confirmed.
Interestingly, our research turned up an RFP soliciting bids for “assistance to establish and administer, under the direction of the Delaware Secretary of State, the unclaimed property voluntary disclosure agreement (VDA) program created pursuant to Senate Bill 258.” Anticipating that the bill will be signed into law by the Governor, the issue of review remains an open concern for many holders contemplating the new Program, many of whom are hoping for the selection of an impartial arbiter of these new cases.
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