(a) If a person does not file a report required by § 1142 of this title or the State Escheator believes that a person may have filed an inaccurate, incomplete, or false report, the State Escheator may require the person to file a verified report in a form prescribed by the State Escheator. The verified report must do all of the following:
(1) State whether the person is holding property reportable under this chapter.
(2) Describe property not previously reported or about which the State has inquired or about which there is a dispute as to whether it is reportable under this chapter.
(3) State the amount or value of the property.
(b) If the State Escheator believes that a person may have filed an inaccurate, incomplete, or false report, including a report submitted under paragraph (a)(1) of this section, the State Escheator may authorize a compliance review of that report and the notification requirements of § 1172(a) of this title do not apply. The compliance review must be limited to the contents of the report filed as required by §§ 1142, 1143 of this title, and subsection (a) of this section, and all supporting documents related to such reports. If the compliance review results in a finding of a deficiency in unclaimed property due and payable to the State, the State Escheator shall notify the holder in writing of the amount of deficiency within 1 year from the authorization of the compliance review. If the holder fails to pay the deficiency within 90 days, the State Escheator may seek to enforce the assessment pursuant to § 1180 of this title or may refer the holder to the Department of State in order to request that the holder enter into an unclaimed property voluntary disclosure agreement under § 1173 of this title. The State Escheator shall not be required to conduct a compliance review under this section prior to initiating an examination under §§ 1171 and 1172 of this title. The filing of a verified report or participation in a compliance review does not preclude the holder from participating in the Secretary of State’s voluntary disclosure program under § 1173 of this title.
81 Del. Laws, c. 1, § 2.
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