Here’s an actual press release from the Treasurer’s office, posted here for your informational (and wealth management) purposes. We were unaware the Secretary himself is now a ‘treasure’ (How much is he worth? Will anyone pay cash for Secretaries?) and we are unclear if the Finder’s are looking for ‘Treasurers” or the other kind, but we understand the confusion.
More importantly… one million dollars!
FOR IMMEDIATE RELEASE
Treasure Hollenbach in Scott County with Treasure Finder’s
Seeking Rightful Owners of $1.4-Million in Unclaimed Property
Frankfort, KY (April 24, 2012) – Starting at 10 a.m. ET Wednesday, Kentucky Treasurer Todd Hollenbach and Scott County Judge-Executive George Lusby will direct a group of local volunteers in the courthouse to search for the rightful owners of thousands of dollars worth of unclaimed property.
Treasurer Finders is a statewide proactive outreach to notify potential claimants of cash being held by the Kentucky State Treasury. Scott County has the potential to return $1.4-million to residents from approximately 8500 properties now held by the State Treasury.
“We roll-up our sleeves and work hard to locate potential claimants. Our goal is to return every dollar possible,” Treasurer Hollenbach said. “In these tough economic times, many residents will welcome a call alerting them to an unclaimed financial treasure”.
The program works with local volunteers to establish a phone bank, review property listings and call residents to informthem of potential unclaimed property. Claimants will then be instructed on how to proceed to claim their property from the Treasury
Each year the Kentucky State Treasury receives millions of dollars from holders (such as banks and insurance companies) who by statute must transfer assets of inactive accounts to the Treasury for holding. Historically, about 20-percent has been returned to owners. To increase the return percentage, Treasurer Hollenbach created the Treasure Finders program in 2009 and since that time has returned a record $52-million worth of claims.
Currently, Treasurer Hollenbach is piloting a new form of Treasure Finder’s using computer software donated by LeXis NeXis, an information technology services company. The software is being used to quickly search and verify claimants inthe counties hardest hit by the March tornadoes in an effort to get money back into the local economy and help the folks in those counties rebuild and recover from the violent storms that devastated their communities.
For more information visit our website at www.kytreasury.com