Checks in the mail for 90,000 Louisiana residents
BATON ROUGE (AP) - About 90,000 Louisiana residents are getting an early Christmas gift, checks in the mail returning money they are owed.
Treasurer John Schroder told The Shreveport Times his office is sending the money to residents owed up to $1,500 from the state's unclaimed property fund. Checks started going out last week and will continue shipping out through November.
Dollars in the unclaimed property fund come from old savings and checking accounts, payroll checks, stocks and dividends, insurance proceeds, oil royalty payments and utility deposits that aren't immediately claimed by their rightful owners.
The treasurer's office tries to locate people and return the money. Under a new law, the state revenue department shared its address database with the treasury to locate people owed money.
That cross-referencing found 90,000 people owed $20 million.