State Treasurer John M. Schroder issued the following statement today on the legal action taken against him by Gov. John Bel Edwards:
“Gov. Edwards is suing me because I won’t let him spend Unclaimed Property in a state budget that tops $32 billion. Actions like this make it hard for the public to have faith in the government process,” said Treasurer Schroder. “Unclaimed Property isn’t the state’s money. It belongs to the people of Louisiana.”
Each year businesses turn over millions of dollars in unclaimed cash, stocks, bonds, securities, and insurance proceeds to the State Treasurer’s Office. Known as “Unclaimed Property,” these funds include payroll checks, old bank accounts, royalties, utility deposits, interest payments, stock certificates, and life insurance proceeds. One in six individuals in Louisiana has Unclaimed Property, with refunds averaging $900.00.
To search for Unclaimed Property, visit www.latreasury.com.