Millions of dollars in lost or unclaimed property is turned over to the State of Utah every year. This money comes from places like dormant bank accounts, old stock certificates and uncollected insurance checks.
“Recent technology improvements have enabled our division to maintain record levels of unclaimed property payouts to rightful owners,” Johnston said. “It is an honor to lead this national network and collaborate with other states on ways we can continue to improve our efforts to get lost property back where it belongs.”
Under Johnston’s leadership, the number of paid unclaimed property claims in Utah has quadrupled, and more than 50 percent of claims are paid in just one week. Utah continues to lead the nation in its efforts to improve unclaimed property processes, including through its 2017 adoption of the revised Unclaimed Property Act.
“I have worked with Dennis in his role as senior vice president at NAUPA and as the Western Region vice president. I look forward to his continued leadership at NAUPA,” NAST President and Vermont State Treasurer Beth Pearce said. “Under the leadership of both Treasurer Damschen and Dennis Johnston, it is no surprise that Utah became one of the first states in the nation to adopt the revised Unclaimed Property Act.”
This is Johnston’s third year serving in NAUPA leadership and sixth year as Utah’s Unclaimed Property administrator.