Delaware Code

12 Del. C. § 1155 (2026)

State Escheator’s options as to custody

✓ current as of May 2026

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(a) The State Escheator may decline to take custody of property reported under § 1142 of this title if the State Escheator determines 1 of the following:

(1) The property has a value less than the estimated expenses of notice and sale of the property.

(2) Taking custody of the property would be unlawful.

(3) The property is tangible or in physical form, including but not limited to savings bonds and bearer bonds.

(4) Taking custody of the property may expose the State to a risk of litigation.

(5) The property is a “nonfreely transferable security” or “worthless security” as defined in § 1130 of this title.

(6) The property is virtual currency for which no ready market exists.

(b) A holder may pay or deliver property to the State Escheator before the property is presumed abandoned under this chapter if the holder does all of the following:

(1) Sends the owner of the property the notice required by § 1148 of this title and conforming to § 1149 of this title.

(2) Provides to the State Escheator evidence of the holder’s compliance with paragraph (b)(1) of this section.

(3) Includes with the payment or delivery a report regarding the property conforming to § 1142 of this title.

(4) First obtains the State Escheator’s consent in a record to accept payment or delivery.

(c) A holder’s request for the State Escheator’s consent under paragraph (b)(4) of this section must be in a record. If the State Escheator fails to respond to the request not later than 90 days after receipt of the request, the State Escheator is deemed to consent to the payment or delivery of the property and the payment or delivery is considered to have been made in good faith, as defined in § 1153(d) of this title.

(d) On payment or delivery of property under subsection (b) of this section, the property is presumed abandoned.

81 Del. Laws, c. 1, § 2; 81 Del. Laws, c. 48, § 3; 84 Del. Laws, c. 368, § 9;

Notes of Decisions

Cited in 3 cases, 2015–2020 · leading case: Temple-Inland, Inc. v. Cook, 82 F. Supp. 3d 539 (D. Del. 2015).

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Temple-Inland, Inc. v. Cook, 82 F. Supp. 3d 539 (D. Del. 2015). · cites it 2× “Factual Background On December 22, 2008, pursuant to his authority under 12 Del. C. § 1155, the State Escheator initiated an unclaimed property audit of plaintiff.”

State of Delaware, ex. rel. French v. CVS Health Corp. (Del. Super. Ct. 2019). “At the time this audit commenced in September 2013, the State Escheator’s examination powers and duties relating to unclaimed property were found at 12 Del. C. § 1155, et seg. Those provisions have since been amended and re-designated elsewhere in Title 12.”

State of Delaware, Dep't of Fin. v. Univar, Inc. (Del. Ch. 2020). “35 See 12 Del. C. § 1155 (2015) (“The State Escheator may at reasonable times and upon reasonable notice examine the records of any person or business association or organization to determine whether the person has complied with any provision of this chapter and may by summons…”

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