STATE TREASURER TATE REEVES DELIVERS CHECK TO UNCLAIMED PROPERTY RECIPIENT
(Jackson, Mississippi) – State Treasurer Tate Reeves today returned $9,237 to Sarah Smith, of Raymond, from Mississippi’s unclaimed property reserve.
“It is always a pleasure to present unclaimed property checks,” Treasurer Reeves said. “The State of Mississippi has more than $40 million that we’re trying to return to its rightful owners.”
Smith, 98, is the widow of A.R. Smith – owner of Smith Pecan Company in Raymond, Mississippi. The next generation of the Smith family continues to operate the company today, while the elder Smith is retired. The reclaimed monies were received from the liquidation of stock purchased years ago. Smith did not know about the stock until she was contacted by the Unclaimed Property Division of the Treasurer’s Office.
“We are always searching for unclaimed property owners,” Reeves said. “One out of every five Mississippians is on our roll, and it is our job to assist citizens in retrieving their unclaimed money.”
Unclaimed property consists of dormant funds that businesses report to the Mississippi Treasury Department. Businesses such as banks, savings and loan companies, insurance companies, and travelers’ check companies are required by law to report these monies to the state treasury after funds have been dormant for five years. The Treasurer’s office attempts to contact owners of the unclaimed funds by mailing a notice to the last known address, publishing the names every three years in statewide newspapers, and circulating the names to county court houses. The State of Mississippi never assumes ownership of unclaimed monies, but acts as a custodian until the rightful owners or heirs are found.
Mississippians can check for unclaimed property on the Treasurer’s web site at www.treasurertatereeves.com. All unclaimed funds of $50 or more are listed by the owner’s last name.
