Source: https://www.oregonlaws.org/ors/98.412
Timestamp: 2019-06-27 00:40:51
Document Index: 622298931

Matched Legal Cases: ['§25', '§22', '§20', '§1', '§41', '§6']

ORS 98.412 - Records and reports - 2017 Oregon Revised Statutes
2017 ORS Vol. 3 Chapter 98 Section 98.412
Claim for unclaimed prop­erty reported to Depart­ment of State Lands
2017 ORS 98.412¹
(1) The Department of State Lands may require a person who has not filed a report to file a verified report stating whether or not the person is holding any unclaimed property reportable or deliverable under ORS 98.352 (Report of abandoned property).
(2) The department may at reasonable times and upon reasonable notice examine the records of any person to determine whether the person has complied with the provisions of ORS 98.352 (Report of abandoned property). The department may conduct the examination even if the person believes it is not in possession of any property reportable or deliverable under this section.
(3) To the extent possible, the department shall enter into agreements with state and federal agencies that regularly examine the records of financial institutions, trust companies, financial holding companies and bank holding companies, as defined in ORS 706.008 (Additional definitions for Bank Act), and of subsidiaries of such financial institutions, trust companies, financial holding companies and bank holding companies. Under the agreements, the state and federal agencies shall examine the records of the financial institution, trust company, financial holding company, bank holding company or subsidiary to determine compliance with ORS 98.352 (Report of abandoned property). If a state or federal agency does not enter into an agreement with the department under this subsection, the department shall conduct the examination of the records of financial institutions, trust companies, financial holding companies and bank holding companies to determine compliance with ORS 98.352 (Report of abandoned property).
(4) If a holder fails to maintain the records required by ORS 98.354 (Records of ownership or issuance of instruments to be maintained) and the records of the holder available for the periods subject to ORS 98.302 (Definitions for ORS 98.302 to 98.436) to 98.436 (Short title) and 98.992 (Penalty for failure to report, pay or deliver property under ORS 98.302 to 98.436) are insufficient to permit the preparation of a report, the department may issue a finding that requires the holder to report and pay the amounts that the department reasonably estimates from the report and available records. The department shall include in its finding a notice substantially similar to that specified under ORS 183.415 (Notice of right to hearing). Additionally, the notice shall include information about opportunities to resolve disputes through a collaborative dispute resolution process.
(5) Any holder subject to examination under this section may request a hearing regarding the findings issued by the department. The department shall conduct a hearing under this subsection as a contested case proceeding in accordance with ORS 183.413 (Notice to parties before hearing of rights and procedure) to 183.470 (Orders in contested cases). [1957 c.670 §25; 1983 c.716 §22; 1993 c.694 §20; 1997 c.480 §§1,1a; 2001 c.377 §41; 2003 c.272 §6]
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 98, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano098.­html (2017) (last ac­cessed Mar. 30, 2018).