DE SB11

Authorizes the State Escheator to contract with persons to conduct examinations of abandoned property holders, with no single contractor assigned more than 50% of all examinations undertaken after January 1, 2015.

Requires all examination contracts to have a maximum term of five years and prohibits contractors from hiring State Division of Revenue or Department of Finance employees in senior supervisory roles related to unclaimed property for two years after they leave state employment.

Modifies the appeal process by making the independent reviewer's written determination final unless further appealed by either the holder or Secretary of Finance to the Court of Chancery within 30 days, with court review limited to whether the determination was supported by substantial evidence.

Directs the Secretary of Finance to complete a detailed manual of procedural guidelines for unclaimed property examinations by December 31, 2015, developed with stakeholder input and updated in administrative regulations.

Requires the Department of Finance to renegotiate current contracts with unclaimed property auditors to ensure no contract exceeds five years per initial or renewed term.