Posted by Madonna [madonna] on October 27, 1999 at 18:30:05 {dPkPwxsNJEPCbDliBmnoz2JZv9gCtQ}:
In Reply to: **WT HAS unclaimed $$$ posted by Shamrock on October 25, 1999 at 19:30:06:
In U.S. banks and companies are required to turn over certain money to the state governments after seven years. This might be money in a savings account of a person who has died and none of his heirs knew he even had this account. Sometimes an employee quits his job and moves away. When the company mails his last paycheck, it is returned to them as unforwardable. They hold the funds for three to seven years and then turn them over to the state in which they operate. The person can then see the listing, check for their name, and if any of the funds are rightfully theirs, they can document a claim and get the money. This is how the unclaimed funds works. (I am a company controller and I have to file these forms. I have also helped my relatives get unclaimed funds from the state.)