Delaware Unclaimed Property Law Overhauled

Significant Changes Affecting Compliance, VDAs and Audit Enforcement Senate Bill (SB 13) was signed into law by Delaware Governor Carney on February 2, 2017. The new law, which became effective upon being signed, makes sweeping reforms to Delaware’s unclaimed property statute (the “UPL”). These changes follow years of scrutiny of the state’s unclaimed property practices, including a strongly worded opinion issued last summer in Temple-Inland v. Cook where the court characterized parts of the…