Delaware Makes Significant Changes to Its Unclaimed Property Statute

Michael Houghton, Morris Nichols banking, regulatory and Commercial Law Counseling Group partner and Best Lawyers 2009 Banking Lawyer of the Year, and Commercial Law Counseling Group associate Brenda Mayrack, authored Delaware Makes Significant Changes to Its Unclaimed Property Statute, published in the July 28, 2010 issue (Vol. 25, No. 29) of BNA’s Corporate Counsel Weekly. 

The article reviews the substance and implications of the recent enactment into law of a series of amendments to Delaware’s unclaimed property statutes.  These amendments represent not only the most comprehensive change to Delaware’s unclaimed property law since the adoption of its current statute in 1981 but impact all of the Fortune 1000 and other businesses that are incorporated in Delaware. 

Click here to read or download the article (PDF  63KB)

Michael Houghton is the Chair of the Executive Committee of The National Conference of Commissioners on Uniform State Laws (Uniform Law Commission).   He, along with fellow Morris Nichols partner Walter Tuthill and Thomson Reuters, co-authored “Unclaimed Property,” a comprehensive analysis of the law of unclaimed property published in BNA’s Corporate Practice Series Portfolio.

Published by The Bureau of National Affairs, Inc., in Washington, D.C., Corporate Counsel Weekly helps corporate lawyers stay alert to the full range of developments affecting corporate practice.