Blog
Unclaimed Property? No. Escheat? Yes
Posted on Feb 22, 2012 by JMS Advisory Group, LLC |
A Nevada court shows us all the true meaning of the term “escheat”. link here Which, according to Black’s Law Dictionary is defined as, “A reversion of property to the state in consequence of a want of any individual competent to inherit.” As consultants, we often ...
Tagged: unclaimed property, escheat, unclaimed property reporting, escheat consulting
Florida Unclaimed Property: A Follow-Up
Posted on Feb 22, 2012 by JMS Advisory Group |
A week ago, we reported a story regarding the current tussle in the Florida legislature regarding the requirement that holders provide social security numbers as part of the owner detail submitted to the state on unclaimed property reports. Today, the University of Florida issued a press release ...
Tagged: florida unclaimed property, florida escheat, social security number, florida privacy
Florida Unclaimed Property & Social Security Numbers
Posted on Feb 14, 2012 by JMS Advisory Group |
The Florida state CFO wants to eliminate his agency’s longstanding policy of providing social security numbers to firms that seek to locate unclaimed property. Seems like a reasonable proposition, but for some reason state Senator Jack Latvala is opposing the measure. Story here
Tagged: florida unclaimed property, florida escheat, asset recovery, florida unclaimed funds
Illinois Unclaimed Property Legislation
Posted on Feb 13, 2012 by JMS Advisory Group |
The drones in Springfield have been busy: Illinois H.B. 4689 Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the term “gift certificate” includes a credit slip issued by a store to a consumer who returns goods that enables the consumer to receive other g...
Tagged: illinois unclaimed property, unclaimed property legislation, illinois escheat, retail credits
Gift Certificates & Gift Cards in Utah - New Legislation
Posted on Feb 13, 2012 by JMS Advisory Group |
If passed in Utah, this new law declares “a supplier commits a deceptive act or practice if the supplier knowingly or intentionally: issues a gift certificate, instrument, or other record in exchange for payment to provide the bearer, upon presentation, goods or services in a specified amou...
Tagged: gift cards, utah unclaimed property, gift card legislation, gift cards escheat
