FOR IMMEDIATE RELEASE Contact: Laura Hudson
Director of Internal Operations
Maine Office of the State Treasurer
GOVERNOR DECLARES FEBRUARY 21 THROUGH 28 MAINE UNCLAIMED PROPERTY WEEK
Augusta, ME: Maine Treasurer, Henry E.M. Beck today announced that Governor Janet Mills has officially declared February 21-28, 2022 Maine Unclaimed Property Week through a proclamation put forward by the Maine Office of the State Treasurer (OST). The proclamation builds on the National Association of State Treasurers (NAST) celebration of National Unclaimed Property Day on February 1st and coincides with a telethon during Maine Unclaimed Property Week.
OST manages Maine’s unclaimed property program. Unclaimed Property consists of money and other financial assets that are considered lost or abandoned when an owner cannot be located after a specified period of time of inactivity. It includes items such as bank accounts, uncashed checks, life insurance policies, unpaid wages, stocks and dividends, refunds, and safe deposit box contents. Unclaimed Property does not include real estate, animals or vehicles.
Each and every year, tens of millions of dollars go unclaimed by Maine residents. These financial assets are turned over by thousands of national and local businesses and organizations by a law called MRSA Title 33, Chapter 45: Maine Revised Unclaimed Property Act. http://legislature.maine.gov/statutes/33/title33ch45sec0.html. The Treasurer’s office holds these assets, free of charge, until claimed by the owner or heir. The State is currently holding over $292,000,000 in unclaimed property. In the month of December alone, 3,001 claims were made against unclaimed property totaling $1,572,332.99
Treasurer Beck said of the proclamation, “Maine continues to play a leading role among states in reuniting people with their unclaimed property,” he said. “The Governor’s proclamation recognizes and amplifies our commitment to the process, providing us a perfect launching pad for increasing awareness of unclaimed property in Maine.” he said.
The Office of the Treasurer of State is established in Article V, Part Third of the Constitution of the State of Maine. The core duties of the Treasurer’s Office are debt management, cash management, trust fund administration and unclaimed property administration. Other major tasks assigned to the Treasurer are directorships on many of Maine’s quasi-governmental debt issuing agencies and distributions under the Municipal Revenue Sharing Program.