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Delaware fundamentally changes unclaimed property law, makes VDA permanent

Delaware Gov. Jack Markell signed legislation on July 22 that makes fundamental changes designed to improve the state’s unclaimed property law. This recent legislation follows a number of legislative changes made since 2012 in response to the general negative perception of Delaware’s unclaimed property law and its administration. Both the recent legislation and legislation enacted in January 2015 adopt most (but not all) of the recommendations made by Delaware’s Unclaimed Property Task Force. The task force was formed in June 2014 to recommend improvements to the state’s unclaimed property program and issued its final report in December 2014.

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