The money, which generally represents life-insurance policy payouts or dividend checks and premium refunds that were mailed to policyholders, is going to be held indefinitely by the Department of Veterans’ Affairs if it stays unclaimed.
The transfer comes as a number of states are looking at laws that might prevent such troubles.
In Nevada, state lawmakers are looking at legislation that will identify and notify state residents qualifying for this kind of payments. Over the course of 2010, practically 100 people have been notified of upwards of $4.5 million owed.
Key Nevada lawmakers say they prepare to raise the situation within the 2011 session from the Legislature.
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