More Than $38 Million Up for Grabs in 2009 Unclaimed Property Supplement

ANNAPOLIS, Md. (May 19, 2009) - Comptroller Peter Franchot today announced that his office will issue a 128-page advertising supplement over the next three weeks to find 54,000 recently identified owners of more than $38 million in unclaimed funds. The supplement will appear in 25 newspapers throughout the state, beginning today and running through Thursday, June 4.

"It is our mission at the Comptroller’s Office to serve the people of Maryland," said Comptroller Franchot. "Part of that service is to connect them with unclaimed funds so they get what they own."

Financial institutions, utilities, insurance companies and other corporations are required to report to the Comptroller any bank accounts, security deposits, wages, insurances benefits and contents of safe deposit boxes that have been unclaimed after three years. Funds remain the property of the owners or their legitimate heirs and can be claimed anytime. There is no statue of limitations.

Comptroller Franchot urges anyone who finds their name in the supplement to contact his office at 410-767-1700, in Central Maryland, or toll-free at 1-800-782-7383, to find out how to make a claim. The Comptroller also noted that anyone can check the agency's complete unclaimed property records online for free at either www.marylandtaxes.com or www.missingmoney.com. The agency has records on approximately 787,000 accounts worth more than $795 million.

In addition, numerous property items held by the agency that remain unclaimed are now eligible for auction on eBay. Since this program began in July 2006, nearly 3,500, items have been sold, totaling nearly $480,000. The items can be viewed and bid on by clicking the eBay icon at www.marylandtaxes.com.

Along with newspaper advertising, the Comptroller's Office also searches for owners of unclaimed funds by matching files with Internal Revenue Service and state Motor Vehicle Administration records and setting up computers at the Maryland State Fair and other events to allow people to check the Comptroller's files of unclaimed funds.

In fiscal year 2008, which ended on June 30, 2008, the Comptroller's Office honored nearly 48,000 claims totaling more than $52 million.

UNCLAIMED PROPERTY ADVERTISING SCHEDULE FOR SPRING 2009

Central Maryland
Baltimore Sun, May 20-22
Cecil Whig, May 21
Carroll County Times, May 22
The Gazette, Carroll County, May 22
The Aegis, May 22
The Capital, May 27
Maryland Gazette, May 27

Capital Region
The Gazette, Montgomery County, May 20, 27, June 3
The Sentinel, Montgomery County, May 21
The Sentinel, Prince George’s County, May 20
The Gazette, Prince George’s County, May 21

Eastern Shore
The Daily Times, May 20, 22, 27, June 3
Ocean Pines Independent, May 20, 27, June 3
Bay Times, May 20
The Times Record, May 20
The Star Democrat, May 21
Kent County News, May 21
Dorchester Star, May 22
Record-Observer, May 22
Wicomico Weekly, May 27

Western Maryland
Frederick News Post, May 19
Herald-Mail, May 19
Cumberland Times News, May 27
The Republican, May 21

Southern Maryland
The Recorder, May 20
Maryland Independent, May 27
The Enterprise, May 27