Louisiana’s Unclaimed Property Program marks 50 years

BATON ROUGE, La. (WAFB) – Louisiana’s Unclaimed Property Program is marking its fiftieth yr in existence.

In line with the Louisiana State Treasurer’s Workplace, former Governor Edwin Edwards signed a invoice that created this system again in 1972.

All through the Louisiana Unclaimed Property Program’s 50 years, 1.38 million unclaimed property checks totaling $727 million have been issued to rightful house owners.

Unclaimed property is misplaced or forgotten cash for gadgets like shares, bonds, securities, royalties, unclaimed money, and insurance coverage proceeds that had been by no means paid out.

“Louisiana’s Unclaimed Property Program is a real success story for our state,” mentioned Louisiana State Treasurer John Schroder. “Thanks partly to advances in know-how, the addition of an in-house legal professional, and an outreach staff to analyze giant claims, we’ve seen an unparalleled enhance in returns between 2017 and 2023.”

Officers mentioned one in each six Louisiana residents has unclaimed property. Claims common $900.

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