Reciprocity Definitions Information | |
ENTITLED STATE - The state to which unclaimed property should be remitted pursuant to the provisions of Texas v. New Jersey, Pennsylvania v. New York, Delaware v. New York, and all other applicable statutes. INCIDENTAL PROPERTY - Ten or fewer properties, totaling $1,000 or less combined, which belong to a state other than the state to which the properties were remitted. IN-STATE HOLDER - A holder which is either incorporated or headquartered in a state; or which prepares or processes its unclaimed property reports in a state; or which maintains its financial records in a state. RECEIVING STATE - A state, other than the entitled state, to which property is remitted by an In-State Holder. RECIPROCITY AGREEMENT: - A written agreement between two states in which the states agree to exchange information and collect unclaimed property for one another. This agreement permits the states involved to inform In-State Holders that they may report current unclaimed property to the Receiving State, which will then forward the property and information to the Entitled State. |
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Legislative Statute | Administrative Rules