Delaware has maintained 60-year grip on funding source of abandoned and unclaimed property. Delaware’s recent loss at Supreme Court when Pennsylvania, Wisconsin, and Arkansas defeated Delaware’s claim to certain prepaid money transmission instruments after deemed abandoned.
Delaware has maintained a nearly 60-year death-grip on its lucrative funding source of abandoned and unclaimed property. Another finger on that grip was loosened by Delaware’s recent.
On February 28, 2023, the Supreme Court issued an opinion determining which state is entitled to take prepaid funds that a bank, financial organization, or business holds in association.