Delaware Code Title 12 Sec. 1143 – Content of report
(a) The report required under § 1142 of this title must do all of the following:
(1) Be signed by or on behalf of the holder and verified as to its completeness and accuracy.
(2) Describe the property.
(3) Except for a traveler’s check or money order, contain the following information about the owner of the property: the name, if known; the last-known address, if known; and the Social Security number or taxpayer identification number, if known or readily ascertainable.
(4) For an amount held or owing under a life or endowment insurance policy or annuity contract, contain the full name and last-known address of the insured, annuitant, or other owner of the policy or contract and of the beneficiary.
(5) Contain the commencement date for determining abandonment under § 1133 of this title.
(6) State that the holder has complied with the notice requirements of § 1148 of this title.
(7) Identify property that is a nonfreely transferable security, and explain why it is a nonfreely transferable security.
(8) Identify a designated individual employed by the holder who will serve as the contact for all correspondence with the State related to the reporting and remittance of unclaimed property under this chapter and contain the designated individual’s mailing address, telephone number, email address, and title. The holder must notify the State of any change of the designated individual or any information provided about the designated individual.
(9) Contain other information which the State Escheator may prescribe.
Terms Used In Delaware Code Title 12 Sec. 1143
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Holder: means any person having possession, custody, or control of the property of another person and includes a post office, a depository, a bailee, a trustee, a receiver or other liquidating officer, a fiduciary, a governmental department, institution or agency, a municipal corporation and the fiscal officers thereof, a public utility, service corporation, and every other legal entity incorporated or created under the laws of this State or doing business in this State. See Delaware Code Title 12 Sec. 1130
- Nonfreely transferable security: means a security that cannot be delivered to the State Escheator by the Depository Trust Clearing Corporation or a similar custodian of securities providing post-trade clearing and settlement services to financial markets or cannot be delivered because there is no agent to effect transfer. See Delaware Code Title 12 Sec. 1130
- Owner: means a person, or the person's legal representative when acting on behalf of the person, that has a legal, beneficial, or equitable interest in property subject to this chapter. See Delaware Code Title 12 Sec. 1130
- Property: means tangible property described in § 1134 of this title or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. See Delaware Code Title 12 Sec. 1130
- Security: means any of the following:
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 12 Sec. 1130
- State Escheator: means the person responsible for the administration and enforcement of this chapter, as established by § 1102 of this title and § 363 of Title 30. See Delaware Code Title 12 Sec. 1130
(b) A report under § 1142 of this title may include personal information about the owner or the owner’s property to the extent such information is not otherwise prohibited by federal law. Any personal information, and disclosure of such information, must be treated in accordance with § 1189 of this title.
(c) If a holder has changed the holder’s name while holding property presumed abandoned or is a successor to another holder that previously held the property for the owner, the holder shall include in the report under § 1142 of this title the holder’s former name or the name of the previous holder, if any, and the known name and address of each previous holder of the property.
(d) No reporting shall be required solely by virtue of holding property constituting consideration paid for unredeemed gift cards which, in the aggregate, for the reporting period have a face value of less than $5,000, or for gift cards having an original issue amount of $5.00 or under issued by a holder whose business is described in § 2906 of Title 30, whether or not such firm conducts business in this State.