Small Business Reading Room

Wednesday, February 06, 2008

Keeping Your Records Up to Date Can Keep your Investments Yours

It is very important to update your address with all holders of your investments. When a company can't find its stockholders, their stock gets surrendered to the State, and sometimes stolen.

As we wrote at the law office, state officials who were supposed to be protecting these unclaimed funds (called escheat), were taking the money for themselves.

The office of the escheator is charged with receiving unclaimed property, and holding on to it for a time. If the property remains unclaimed, then it belongs to the state. Delaware's Office of the Escheator was created in 1805.

So, its a great idea to keep all of your records updated with your current contact information.

posted by Larry at 7:38 AM - permalink 0 comments

Small Business Reading Room

Keeping Your Records Up to Date Can Keep your Investments Yours

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