Mark H. Pfeiffer, Director of Unclaimed Property
Sunday, March 23, 2014 6:09 pm

SB 235 sails through the Senate by unanimous consent!

Frankfort, KY (March, 2014) – Kentucky Treasurer Todd Hollenbach said “My thanks to Senator Morgan Mc Garvey for shepherding this very important legislation through and thanks also to the entire Senate for its bipartisan support.”

Senate Bill 235 would require the United States Treasury to comply with Kentucky’s unclaimed property statutes and turn over more than $200-million dollars in matured U.S. Savings Bonds to Kentucky enabling the State Treasurer to actively locate the rightful owners in the Commonwealth and return the monies to them through his Treasure Finders initiative.

“ Right now, the Federal Government is holding these bonds hostage in Washington, D.C. , making only a token passive effort to notify the bond owners” Hollenbach said. “Most of the bonds have matured, no longer accruing interest, and inflation continues to erode their value.”