Proposed Delaware legislation would provide even more incentive to participate in new voluntary disclosure initiative

Even greater incentives may soon be available to participate in the Delaware Secretary of State's new voluntary disclosure initiative. On January 10, 2013, House Bill 2 (HB 2) was introduced to create additional incentives for holders of abandoned property under the new program. The bill expands the timeframe to make payment or enter into a payment plan and allows holders to enter into new VDA agreements for related parties or for property not previously included in a VDA.