Treasurer Zweifel Applauds Initial Approval of Bill Protecting Medals of Honor for Veterans
JEFFERSON CITY, MO – February 10, 2010 – (RealEstateRama) — State Treasurer Clint Zweifel (ZWY-ful)today applauded the House Committee on Veterans for voting unanimously to send a bill to the full House that protects and respects the service of Missouri’s military veterans. The Veterans Medals Bill, HB 1745, ensures military medals held by Unclaimed Property in Treasurer Zweifel’s office will never be auctioned or sold. Treasurer Zweifelestablished the administrative policy that led to HB 1745 upon taking office.
“Military medals hold significant meaning to veterans and their heirs,” Treasurer Zweifel said. “Preserving these medals forever is our responsibility to service men and women. That is why I have directed Unclaimed Property not to sell or auction any of the military medals we are currently holding, and that is why I want to ensure they are never sold in the future.”
There are currently 94 military medals in Unclaimed Property, and the Veterans Medals Bill allows Treasurer Zweifel to appoint a custodian of the military medals until the owner or beneficiary can be located. This provision grants Treasurer Zweifel the opportunity to share the medals with veterans’ organizations. Rep. David Day (R-Dixon) is the sponsor of the House legislation. The Missouri Association of Veterans Organizations, the American Legion and the Veterans of Foreign Wars support HB 1745.
“I appreciate Rep. Day’s sponsorship of this bill and his commitment to respecting Missouri’s veterans. With his leadership, I am confident we will be able to preserve these medals that honor the sacrifice of Missouri’s veterans,” Treasurer Zweifel said.
Treasurer Zweifel’s office also operates Operation Extra Mile, a partnership with the Missouri Veterans Commission, to match its database with the Unclaimed Property database to determine if service members, veterans or their families have Unclaimed Property.
Sen. Frank Barnitz (D-Lake Spring) is sponsoring SB 846, the companion legislation to HB 1745. The Senate version was referred to the Senate Committee on Veterans’ Affairs, Pensions, and Urban Affairs. The bill has not been heard in committee.
About Treasurer Zweifel’s Unclaimed Property
State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer Zweifel’s office that belong to a customer, client, employee or other owner if there have been no documented transactions or contact with the owner for five or more years. Most Unclaimed Property consists of cash from bank accounts, stocks, bonds and contents of safe deposit boxes that have been abandoned. It also can include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs. Treasurer Zweifel’s office does not handle real property such as land, houses, cars and boats. There is $600 million in Unclaimed Property maintained by Treasurer Zweifel. Treasurer Zweifel’s office never charges for the return of Unclaimed Property.
Contact:
Jon Galloway
(573) 751-7595 – Office
(573) 418-2923 – Cell
