Leawood, Kansas – April 23, 2021: In February 2021, Texas released the 2021 Unclaimed Property Reporting Instructions. The property codes were updated in the revised Reporting Instructions to include the code, AC09, for stored value cards issued by Financial Institutions and a dormancy period of 5 years. Texas had previously agreed with Card Compliant, a key stakeholder in effectuating the change, regarding the dormancy period for stored value cards issued by Financial Institutions but had not updated its Unclaimed Property Reporting Instructions to explicitly state the longer dormancy period and unique property code until this year.
About Card Issuance and Management, Inc.:
Card Issuance and Management, Inc. is a subsidiary of Card Compliant, LLC. The company supports and provides a variety of services regarding the issuance of prepaid cards including gift cards and loyalty, awards and promotional instruments. For more information about Card Compliant, LLC visit www.cardcompliant.com.