State returns more than $45,000 in unclaimed property during fair

The Sedalia Democrat

Wednesday, September 2, 2009

State Treasurer Clint Zweifel announced his Unclaimed Property Division had returned more than $45,000 in Sedalia during the Missouri State Fair.

Zweifel's Unclaimed Property Division had a booth in the Mathewson Exhibition Center where fairgoers could use the service to search for property, file claims and ask questions. Through the duration of the fair, $46,761 was returned to 245 people, according to a release from Zweifel's office.

The 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. Financial institutions, insurance companies, public agencies and other business entities turn the property over to the state if there has been no documented transaction or contact with the owner for more than five years.

Money was returned to about 12 percent of fairgoers who stopped at the booth to check the division's records.

"By being at the State Fair, Unclaimed Property remains visible to Missourians and reminds citizens there is still $500 million out there waiting to be claimed," Zweifel said.  "We work every day to get this money back into the economy.  It has a real impact."

In 2009, the division returned a record 75,441 accounts representing more than $26.6 million.

"Through promotion, proactive outreach and word of mouth, Missourians are claiming their property, and there has never been a better time to get this money back into owners' hands," Zweifel said.