200 Attend Unclaimed Funds Event in Midwood
An event Tuesday to help Midwood residents find any unclaimed funds in banks, insurance or utilities attracted more than 200 people, said state Sen. Simcha Felder, who hosted it at his district office in conjunction with the state comptroller.
“The number of people who showed up was absolutely surreal,” marveled Felder, a Brooklyn Democrat. “Many people did not think they would find any monies in their name, but were pleasantly surprised.”
Personnel from Comptroller DiNapoli’s office assisted people in searching the database and helping them file claims.
Under state law, banks, insurance or investment companies, utilities, and other businesses are required to surrender inactive accounts to the state, which then becomes the custodian of any abandoned funds until they are claimed. DiNapoli said that there is currently more than $12.5 billion waiting to be returned to the rightful owners.
This article appeared in print on page 5 of edition of Hamodia.
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