State officials have reported that Treasurer Curtis Loftis and the Unclaimed Property Program returned more than $27 million in 2016.
"It’s wonderful seeing the hard work of the Unclaimed Property Program pay off,” Loftis said. "Returning money to the people of South Carolina is one of the best parts of the job, and paying back more than $27 million in one year is a huge accomplishment."
Since he has taken office, the annual amount returned has almost doubled and the program has returned more than $100 million to South Carolinians, state officials reported. Millions of dollars are transferred to the program annually by companies that cannot locate the owners.
Examples of the types of property covered by the program include dormant bank accounts, stock certificates, uncashed checks (including paychecks), insurance proceeds and utility deposits. The Unclaimed Property Program does not include tangible property like land or vehicles.
"We may have paid back $27 million, but we still have $550 million in funds waiting to be claimed,” Loftis said. "Everyone should check their name to see if they have unclaimed property. You might not even know that you have money waiting for you."
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