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Centenarian claims cash lost in the late 1980s

Centenarian claims cash lost in the late 1980s
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PIERRE - It isn't the largest amount of unclaimed property ever returned by the state Treasurer's Office, but the recipient of the lost cash certainly is the oldest.

Keo Kern, who is 102, was in the office Tuesday to claim $393.46 in interest from a certificate of deposit purchased in the late 1980s.

State Treasurer Vern Larson presented her with a proclamation as the "most experienced recipient of unclaimed property in South Dakota."

Kern was born in Sargent, Neb., and grew up north of Witten.

Lois Foster, Kern's 82-year-old daughter, said the money will be used on the road as she and her mother make their seasonal trip to Yuma, Ariz.

Banks and other businesses are required to give the state any cash, stocks, bonds, utility deposits and other property when the owners can't be found. The treasurer's office holds the property while it tries to find the owners.

Foster said a niece discovered Kern's unclaimed funds on a Web site.

Larson's office is holding $15 million worth of unclaimed property.

Most of it is money left in banks when people move, or insurance payments people neglected to pick up. Other times people forget to redeem utility deposits.

"Our biggest problem is we live in a mobile society," Larson said.

Lloyd Johnson, unclaimed property administrator for the state, said Tuesday's proclamation was significant for a couple of reasons.

"We were able to put a face to the money we gave back," he said. "Out of the $2.5 million we gave back last year, we probably didn't meet most of the people. And today was especially special because of Keo being the most experienced South Dakotan to receive unclaimed property."

Copyright 2012 Rapid City Journal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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