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Senate approves automatic mailing for unclaimed-property checks valued $50–$500,000
Summary
Senator Wallace said the measure would enable the auditor to mail unclaimed-property checks directly to apparent owners after verification. The chamber passed Senate Bill 14 by voice vote and later recorded a 34–0 roll-call vote.
The Arkansas Senate approved legislation to allow the Auditor's Office to mail unclaimed‑property checks directly to apparent owners in specified cases, supporters said, citing an effort to return money to people who do not know they are owed funds.
Senate Bill 14, presented by Senator Sandra Wallace, would permit direct payment or delivery of property under the state's Unclaimed Property Act for values between $50 and $500,000 in certain circumstances. "This is simply enabling language for automatic mailing of unclaimed property checks value between $50 to 500,000," Wallace said on the floor.
Wallace told senators the Auditor's Office has identified 359,796 eligible properties valued at about $83,000,000. She described verification steps the auditor's office uses, including third‑party identity checks, Internal Revenue Service tax‑identification verification and National Change of Address data, and said staff are also calling and checking records.
Senator Bryant questioned liability if a check were mailed in error and cashed by the wrong person. Wallace replied that the law and the bill protect the true owner and that a check would be made out to the named individual; "the person who the money belongs to will always be protected," she said. She added that the measure targets individuals and does not address checks payable to corporations or LLCs.
The Senate first adopted the measure by voice and then, following a roll call, the secretary announced a recorded vote of 34 yay, 0 nay. The presiding officer ordered the bill transmitted to the House.
