Free cash for Oregonians -- maybe you

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State Has $300 Million In Unclaimed Cash

BY KRISTIAN FODEN-VENCIL

Portland, OR March 17, 2009 1:34 p.m.

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As Oregonians wrestle with the economic downturn, the state says it has about $300 million of unclaimed cash to hand out. Kristian Foden-Vencil reports.

The money comes from inactive bank accounts, unclaimed payroll checks, and stocks that grandma collected but never passed on.

Banks and other organizations are required by law to send any unclaimed assets to the Department of State Lands.

The agency then lists the missing money on its webpage - www.oregonstatelands.us.

Agency spokesman, Patrick Tate says to make a claim, you plug in your name and you have a 25 percent chance of a hit.

Patrick Tate: "We kind of figured it out on how many names we have in the system and how many Oregonians we have in the state and generally it's a one in four chance that you're going to find yourself or a close relative."

Now and then large amounts are claimed, but generally the sums range between $50 and $500.

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