West Virginia Department of Treasury

West Virginia State Treasurer's Office

West Virginia Treasurer John Perdue says the state is returning unclaimed property at a record clip.

Perdue says in a news release that the treasurer's office's paid out more than $14 million in more than 8,000 claims through March. The record for a fiscal year, which ends in June, is $15.4 million paid out in 2008-09.

Perdue's office says it plans to publish newspaper inserts over the next three weeks listing about 15,000 names of unclaimed property owners.

Money, Cash
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The West Virginia State Treasurer’s office said in a news release it paid out $1.45 million in claims last month.

Unclaimed property can include abandoned safety deposit boxes, stock dividends left uncashed or a final paycheck left behind. By law, holders of such assets are required to turn them over to the Treasury.

Field representatives with the Treasurer's office conduct outreach by tracking down property owners through in-house records, courthouse files and checking other documents. 

West Virginia State Treasurer's Office

  State Treasurer John Perdue is criticizing Gov. Earl Ray Tomblin for banking on $15 million from an unclaimed property account to balance the next budget.

The Charleston Gazette reports Perdue thinks the move would make it difficult to pay claims to unclaimed property owners or survivors within 90 days, as required by law.

The $21.5 million fund includes various liquidated assets, like sold unclaimed stock and mutual funds, and insurance company payments for unclaimed benefits.