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Unclaimed Property

CALIFORNIA | LOCAL
March 29, 1993 | MACK REED
The Ventura County Sheriff's Department plans to auction off seized and unclaimed property on Saturday, ranging from bicycles and lawn mowers to hand tools and holsters. The auction at the County Government Center, 800 S. Victoria Ave. in Ventura, is scheduled to begin at 10 a.m., with preview of the items to be auctioned at 9. Surplus furniture from the Sheriff's Department, including desks, chairs and seating units, will also be sold at an auction scheduled for Sunday at the same location.
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NEWS
September 15, 2002 | MICHAEL LIEDTKE, ASSOCIATED PRESS WRITER
As it hunted for cash to balance this year's state budget, New York tapped into one of its fastest-growing revenue sources -- bank accounts, stocks and other assets that owners have, for one reason or another, left behind. New York's budget includes $408 million in abandoned property to be scooped up in its current fiscal year, as well as $300 million from selling unclaimed securities. None of this money technically belongs to New York.
BUSINESS
April 19, 1999 | ASHLEY DUNN, TIMES STAFF WRITER
Floating out there in the financial ether are tens of billions of dollars in unclaimed goods--some of which might just be yours. The billions are made up of inactive bank accounts, lost utility refunds, abandoned pension benefits, unclaimed safe-deposit box contents and a variety of other forgotten assets that in many states are required to be turned over to the government for eternal safekeeping.
BUSINESS
July 9, 2007 | Marc Lifsher, Times Staff Writer
Finding unclaimed bank accounts, stock certificates and other securities is a lucrative business for a handful of private companies that contract with the state to comb the books of corporations, insurance companies and financial institutions. Since 1985, these contractors have delivered property to the state valued at $1.13 billion and earned $101.9 million in commissions, according to the California controller's office. The contractors, who earn commissions ranging from 6.8% to 10.
NEWS
December 8, 1999 | DAN MORAIN, TIMES STAFF WRITER
Assemblyman Fred Keeley forgot about $1,000 at a bank in Ohio. State Sen. Tom Hayden accidentally overpaid a hospital $489. And state Sen. Martha Escutia neglected to cash a $500 check from the Bicycle Club, a Bell Gardens card room. These lawmakers and many others had no clue that they have unclaimed cash buried in state coffers. California's unclaimed property fund is huge--$2.6 billion and growing. That means the 5.
CALIFORNIA | LOCAL
October 27, 2005 | Evan Halper, Times Staff Writer
Millions of Californians have made hefty contributions of cash, stocks, even antique jewelry, to state coffers without knowing it. That's because lawmakers have been raiding the state's unclaimed-property cache and using the proceeds to help balance the budget. About $896 million in unclaimed property was turned over to the state for safekeeping last year under a 46-year-old program designed to protect forgotten or abandoned assets.
CALIFORNIA | LOCAL
July 18, 2000 | JEAN O. PASCO, TIMES STAFF WRITER
The state controller's office is holding $2.6 billion in unclaimed property and money from insurance and title companies, banks and other financial institutions. So how is it that such a pile of money sits unclaimed, especially among the dozens of government agencies around the state that are owed? Those are the same agencies that pride themselves on sound fiscal management, at least around election time.
CALIFORNIA | LOCAL
November 10, 2001 | DAN MORAIN, TIMES STAFF WRITER
A state judge, acting on a request by Controller Kathleen Connell, is considering resealing documents central to allegations that the state sold millions of dollars worth of small investors' stock in the 1990s without making any attempt to notify the rightful owners. Connell's attorney declines to characterize the documents' significance. Rather, the attorney charges, the documents were misappropriated and never should have become public.
BUSINESS
September 24, 2000 | KATHY M. KRISTOF
Here are answers to some frequently asked questions about the Missing Money Web site: * Q: What type of property is in this database? A: It runs the gamut from forgotten phone and rental deposits to contents of safe deposit boxes, bank accounts and securities. The only types of property that are generally not included are funds owed to you by federal authorities, which typically operate their own lost-and-found services. Q: How does property get lost?
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