Wednesday, January 3, 2018
Delaware Names New State Escheator
According to release
from the Delaware Department of Finance, Brenda R. Mayrack has been
named the Delaware State Escheator. Escheator Mayrack is well known to
the unclaimed property professionals’ community, having served as both
an auditor as well as attorney in private practice representing
holders. She takes over Delaware’s Office of Unclaimed Property at a
crucial time. Delaware is in the midst of several high profile
unclaimed property matters including, most recently, a decision by the
United States Court of Appeals in Marathon Petroleum Corp. v. Cook, holding that private parties may raise the Texas v. New Jersey
priority rules established by the Supreme Court to challenge a state’s
authority to escheat property, and allowing for the possibility of
broader challenges to Delaware’s audit practices.
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