Monday, June 11, 2012
Lost & Found: New Jersey Gift Card Editorials, Missouri Breaks Records, South Carolina Returns Money to Lawmakers, West Virginia Treasuer Honored
Editorial on New Jersey Gift Card Law -- Last week, we posted an update concerning the New Jersey legislature's efforts to repeal the Garden State's 2010 gift card legislation. Recently, the Times of Trenton, NJ published an editorial strongly in favor of repealing New Jersey's gift card law. While the Times editorial board commended the state's efforts to ban dormancy fees and expiration dates, it nonetheless argued that "[t]he state should not be poised like a vulture over these purchases, counting on a recipient’s forgetfulness to help patch budget holes." The full editorial can be found at the Times of Trenton website here.
Even Some Lawmakers Unaware of Unclaimed Property Laws -- Charleston, SC NBC Affiliate WCBD recently reported that South Carolina State Treasurer Curtis Loftis (who was a recent participant in our "Meet Your Escheator" feature) announced that at least 23 South Carolina legislators were owed unclaimed money by the state. Thanks to the efforts of Treasurer Loftis, that number is likely to get whittled down. According to an article published on SCNow.com at least one legislator has already begun the reclaim process.
Missouri Breaks Unclaimed Property Reunification Record (Again) -- According to an article in the St. James Leader-Journal, Missouri State Treasurer Clint Zweifel recently announced that, for the third time in a row, the state has broken the record for the largest amount of money returned from the unclaimed property fund for the fiscal year (with a few weeks remaining). This year, Missouri has returned more than $36.5 million. Of course, as regular readers may recall that large amount was helped a great deal by the fact that just a few months ago, Missouri paid out the largest single unclaimed property claim ever (of more than $6 million).
West Virginia Treasurer Given Lifetime Achievement Award -- The National Association of Unclaimed Property Administrators, an organization representing the interests of state unclaimed property departments, recently honored West Virginia Treasurer John Purdue with a lifetime achievement award to recognize him for his efforts to return unclaimed property to West Virginians. According to an article in the Charleston (WV) Gazette, Treasurer Pursue has overseen the return of more than $100 million since West Virginia's unclaimed property law was modernized in 1996.