State wants to rid itself of unclaimed property

State Treasurer Converse Chellis has released the Unclaimed and Abandoned Property figures for 2008. The program is better known as the “Palmetto Payback” Program. The amount of money returned was $12,420,812. That amount is an increase of close to $4 million over the amount returned in 2007.

“Our aggressive search to return money to its rightful owners is paying off in a good way for the people of South Carolina. This money doesn’t belong to the State, it belongs to the people and to the businesses of our State and we will continue to work hard to insure this money gets back to the rightful owners,“ said State Treasurer Converse Chellis.

The largest claim paid was $76,773 to an individual in Moncks Corner and the oldest person to receive money was Hattie Miller of Spartanburg at 100 years old.

The State Treasurer’s Office continues to look for individuals and businesses who have unclaimed property. Unclaimed property is generally any financial asset, usually money, that has not had any owner-generated activity for a period of time, usually five years. Examples of unclaimed property include uncashed payroll checks; dormant savings and checking accounts; abandoned stocks and bonds; unclaimed insurance proceeds; forgotten utility deposits; and more.

To check unclaimed property, search the State Treasurer’s Web site at http://www.treasurer.sc.gov.