Missouri sets unclaimed property payout record

Kansas City Business Journal

Wednesday, June 10, 2009, 2:51pm CDT

Missouri State Treasurer Clint Zweifel's office has set a record with 71,406 unclaimed property accounts totaling $25.6 million paid this fiscal year.

The previous record was 71,155 accounts paid, set in fiscal year 2004. The fiscal year ends June 30.

The Unclaimed Property Division in the treasurer's office holds abandoned assets from bank accounts, stocks, bonds, insurance policy proceeds, government refunds, utility deposits, wages from past jobs and contents of safe deposit boxes.

This property is turned over to the state by financial institutions, insurance companies, public agencies and other business entities if there has been no documented transaction or contact with the owner for five or more years.

Some of the items turned over include numbered dollar bills from the 1930s, coins and a Princess Diana doll.

"There is still more than $550 million waiting to be claimed," Zweifel said in a statement Wednesday. "We will continue to track down the owners of these assets through our advertising and outreach initiatives."

More information is available on the state treasurer's Web site.

• Original Article