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No, the funds are held until the rightful owners claim them.
For more information visit the Ohio Department of Commerce.
Or Write to:
State of Ohio Department of Commerce
Division of Unclaimed Funds
77 S High Street
Columbus, OH 43264-0545
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Ohio Revised Code Section l69 states that property becomes unclaimed when, over a period of years, the owner cannot be located by the holder of the Funds. The time frame varies depending on the property, but in most cases it's five years. The funds are then turned over to the state for safekeeping.
The Division of Unclaimed Funds annually publishes the names of unclaimed fund users in newspapers in all of Ohio's 88 counties. The Division actively seeks to find unclaimed fund owners by giving individuals an opportunity to check their names at the state and county fairs, shopping malls and other events. In addition, various activities are planned to let people know they may have funds waiting for them. An owner then writes to Unclaimed Funds giving their full name and address. The Division will check the name against the owner list. If they are listed they are sent a claim form.