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DE SB266
Bill
Status
8/15/2024
Primary Sponsor
Spiros Mantzavinos
Click for details
AI Summary
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Prohibits private parties from bringing lawsuits under the Delaware False Claims and Reporting Act (DFCRA) based on violations of unclaimed property reporting requirements under § 1142 of Title 12.
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Preserves the Attorney General's authority to bring enforcement actions against non-compliant holders, except those already enrolled in voluntary disclosure agreements or under examination by the State Escheator.
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Establishes a 90-day window for the State Escheator to initiate examinations based on whistleblower information before the Attorney General may pursue civil claims.
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Defines "whistleblower" as an individual or group providing original source information about holder non-compliance with unclaimed property reporting requirements.
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Authorizes whistleblower awards of 20-30% of the first $5 million recovered and 10-20% of amounts exceeding $5 million, plus reimbursable costs and attorney fees, when their information leads to successful state recovery.
Legislative Description
An Act To Amend Title 6 And Title 12 Of The Delaware Code Relating To Unclaimed Property.
Last Action
Signed by Governor
8/15/2024