An unclaimed property examiner must complete the exam (not merely start the exam) of a holder within the statute of limitations, the Michigan Supreme Court ruled in Dine Brands Global, Inc. v. Eubanks; The Walt Disney Company v. Eubanks, Nos. 165391 and 165392 (Mich. March 24, 2025). The ruling is significant because it puts a limit on the seemingly never-ending examination process. The significance of the constraint will depend on an issue remanded to the Michigan Court of Appeals for further consideration (i.e., whether a demand for payment at the end of an audit creates a new, independent legal obligation separate from the original duty to report and remit unclaimed property). Refer to this White Paper for further information regarding the Michigan Court of Appeals ruling and Application for Leave to Appeal filed with the Michigan Supreme Court. For additional information regarding unclaimed property reporting obligations, see this White Paper.

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