The Positive Side of Escheatment Compliance

September 2, 2019


There are some good reasons for achieving compliance with escheatment statutes, besides the fact that they are the law and you are subject to fines and penalties if you don’t. Here are some of the positive reasons for compliance. It reduces the possibility of legal liability. The state becomes the holder of the property, and a vendor, for example, cannot pop up after years of being unfound and sue your company for interest on unpaid invoices. Kerry Reeder, who directs the unclaimed property…

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