Missouri sets record in returning unclaimed property

THE ASSOCIATED PRESS
JUNE 11, 2009

JEFFERSON CITY, Mo. (AP) - Missouri Treasurer Clint Zweifel says his office has set a new record for returning abandoned property to people.

Zweifel says the treasurer's office has paid out 71,406 unclaimed property accounts so far this fiscal year, which runs through June 30.

The previous record of 71,155 accounts paid was set in the 2004 fiscal year.

The treasurer's Unclaimed Property Division 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.

The property is turned over to the state if there has been no documented transaction or contact with the owner for five or more years. The state then tries to track down the owners.