21 states have filed a lawsuit against the state of Delaware for $150 million for unclaimed money orders.
Delaware argues that federal law allows it to collect the property from financial service companies.
The Wilmington News Journal reports that the state is known as the capital of incorporation with almost 65 percent of the Fortune 500 located in the state.
The News Journal found that abandoned property including money orders amounts to 15 percent of the state government’s revenue.
And the paper said that MoneyGram which has its corporate home Delaware with headquarters in Dallas is the nation’s largest money order servicing company.
Its revenue for last year was $1.4 billion.
