The Missouri state treasurer maintains some $600 million of unclaimed
property, most of it cash from bank accounts, the contents of safe
deposit boxes, stocks and bonds, according to the treasurer's office.
The average payout is about $300.
"While we aren't disclosing this person's name, what I can tell you
is we found this person and worked quickly to get the money back in her
hands," Missouri Treasurer Clint Zweifel said on Wednesday in a
statement.
Zweifel said assets become unclaimed property for many reasons in
Missouri, whether a death in the family, misplaced documents or changes
in address. The woman's name and other details were not disclosed for
privacy reasons.
In Missouri, financial institutions, insurance companies, public
agencies and other businesses are required to turn over to the state
treasurer assets that belong to customers, clients or employees if there
have been no documented transactions or contact with the owner for five
or more years.
Thirty-eight accounts of more than $100,000 each remain unclaimed in Missouri.
Brandon Fuhr, a spokesman for the treasurer, said all states keep
unclaimed property and he encouraged residents to contact their state
treasurer or comptroller or look at their websites for details.
