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Tackling Unclaimed Properly in Kentucky State Government.(Brief Article)
This article describes one state treasurers approach to developing a new statewide abandoned property program.
Located beneath the state capitol grounds in Frankfort, Kentucky is a vault containing a Kentucky treasure. That treasure is Kentucky's unclaimed property fund. Unclaimed property involves property or financial assets--such as abandoned savings and checking accounts, uncashed checks, and travelers' checks--turned over to the state after a period of time, usually seven years.
The property can be turned over to the state for a variety of reasons. For example, if a family member allows payments to lapse on a safety deposit box, the bank holds the ...
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Source: HighBeam Research, Tackling Unclaimed Properly in Kentucky State Government.(Brief...