reglab/statecodes huggingface dataset:
2023 Oklahoma Statutes › Title 60. Property › §60-657. Property held by courts, public officers and agencies.

Intangible property held for the owner by a court, state or other government, governmental subdivision or agency, public corporation, or public authority which remains unclaimed by the owner for more than one (1) year after becoming payable or distributable is presumed abandoned.
Laws 1967, c. 107, § 7, emerg. eff. April 24, 1967; Laws 1991, c. 331, § 11, eff. Sept. 1, 1991.
2023 Oklahoma Statutes › Title 60. Property › §60-657.1. Credit memo issued in ordinary course of business.

(a) A credit memo issued in the ordinary course of an issuer's business which has a value of more than Fifty Dollars ($50.00) and remains unclaimed by the owner for more than five (5) years after becoming payable or distributable is presumed abandoned.
(b) With regard to a credit memo, the amount presumed abandoned is the amount credited to the recipient of the memo. In applying the Fifty Dollar ($50.00) limitation, individual credit memos to the same owner shall not be aggregated.
Added by Laws 1991, c. 331, § 12, eff. Sept. 1, 1991.
2023 Oklahoma Statutes › Title 60. Property › §60-657.2. Unpaid wages owing in ordinary course of business.

Unpaid wages, including wages represented by unpresented payroll checks, owing in the ordinary course of the holder's business which remain unclaimed by the owner for more than one (1) year after becoming payable are presumed abandoned.
Added by Laws 1991, c. 331, § 13, eff. Sept. 1, 1991.
2023 Oklahoma Statutes › Title 60. Property › §60-657.3. Personal property held in safe deposit box or other safekeeping repository.

All tangible and intangible personal property held in a safe deposit box or other safekeeping repository in this state in the ordinary course of the holder's business and proceeds resulting from the sale of the property permitted by other law, which remain unclaimed by the owner for more than five (5) years after the lease or rental period on the box or other repository has expired, are presumed abandoned.
Added by Laws 1991, c. 331, § 14, eff. Sept. 1, 1991.
2023 Oklahoma Statutes › Title 60. Property › §60-657.4. Intangible property - Presumption of abandonment.

A. All intangible property, including but not limited to securities, principal, interest, dividends or other earnings thereon, less any lawful charges, held by a business association, federal, state or local government or governmental subdivision, agency or entity, or any other person or entity, regardless of where the holder may be found, if the owner has not claimed such property or corresponded in writing with the holder concerning the property within three (3) years after the date prescribed for payment or delivery by the issuer, unless the holder is a state that has taken custody pursuant to its own unclaimed property laws, in which case no additional period of holding beyond that of such state is necessary hereunder, is presumed abandoned and subject to the custody of this state as unclaimed property if:
1. The last-known address of the owner is unknown; and
2. The person or entity originating or issuing the intangible property is in this state or any political subdivision of this state, or is incorporated, organized, created or otherwise located in this state.
B. The provisions of subsection A of this section shall not apply to property which is or may be presumed abandoned and subject to the custody of this state pursuant to any other provision of law containing a dormancy period different than that prescribed in subsection A of this section.
C. The provisions of subsection A of this section shall apply to all property held at the time of the effective date of this act, or at any time thereafter, regardless of when such property became or becomes presumptively abandoned.
Added by Laws 1992, c. 295, § 27, eff. July 1, 1992. Amended by Laws 2000, c. 136, § 4, eff. July 1, 2000.
2023 Oklahoma Statutes › Title 60. Property › §60-658. Miscellaneous personal property held for another.

A. Except as otherwise provided in the Uniform Unclaimed Property Act, all intangible personal property, including income or increment derived from the property, less any lawful charges, that is held, issued, or owing in the ordinary course of a holder’s business and has remained unclaimed by the owner for more than five (5) years after becoming payable or distributable is presumed abandoned.
B. Holders of presumed abandoned intangible property shall report annually and remit all proceeds accrued to date, including the current balance held by the holder. When and if any part of the proceeds has been held for the statutory abandonment period or longer, the holder must report and remit all interest, additions, and increments accrued to the account of the owner. Any additional amounts accruing to an owner of the same intangible property presumed abandoned previously reported will be reported and remitted on an annual basis, including additional amounts from the “as of date” of the previous report year through the “as of date” of the current report year.
C. In no event shall mineral interest proceeds be required to be reported or remitted sooner than six (6) months after the date of first sale from the applicable well.
D. Property is payable or distributable for the purposes of this act notwithstanding the owner’s failure to demand the property or to present an instrument or document required to receive payment of the property.
Added by Laws 1967, c. 107, § 8, emerg. eff. April 24, 1967. Amended by Laws 1982, c. 278, § 6, eff. Jan. 1, 1983; Laws 1991, c. 331, § 15, eff. Sept. 1, 1991; Laws 2003, c. 224, § 5, eff. July 1, 2003; Laws 2004, c. 318, § 3, eff. July 1, 2004.
2023 Oklahoma Statutes › Title 60. Property › §60-658.1. Mineral interests in land.

Any mineral interest in land in Oklahoma shall be subject to sale under the provisions of Sections 271.1 through 277 of Title 84 of the Oklahoma Statutes if it generates an intangible property interest which is presumed abandoned for a period of fifteen (15) years under the Uniform Unclaimed Property Act or under similar laws of another state.
All holders of intangible property interests generated by a mineral interest in land in Oklahoma shall report to the State Treasurer, in addition to the reporting otherwise required by law, the names and the last-known addresses of owners of record of the unclaimed mineral interest, the legal description of the land affected, and the extent of the property rights in the mineral interest. Only one report with respect to each owner and mineral interest is necessary; subsequent reports must include complete information with respect to all new owners and new unclaimed mineral interests.
The State Treasurer shall send a copy of the report required by this section to the Attorney General and the district attorney of the county in which the land is located. Except to a claimant of the unclaimed mineral interest, or as necessary to effectuate a judicial sale as set forth in Section 271.1 of Title 84 of the Oklahoma Statutes, the legal description of the mineral interest and the extent of the property rights in the mineral interest shall be deemed confidential and not released to the general public by the State Treasurer, Attorney General or district attorney. The State Treasurer shall send a report reflecting only the names and last-known addresses of owners of record of the unclaimed mineral interest to the county clerk of the county in which the land is located, and the clerk shall maintain the list for public viewing. The clerk shall also report to the board of county commissioners that the report has been received, and note the receipt in the minutes of the meeting, so the public can be informed.
The State Treasurer is authorized to develop procedures for the implementation of the Uniform Unclaimed Property Act.
Added by Laws 1978, c. 229, § 1, eff. Jan. 1, 1979. Amended by Laws 1988, c. 146, § 2, operative July 1, 1988; Laws 1991, c. 331, § 16, eff. Sept. 1, 1991; Laws 1999, c. 10, § 5, eff. July 1, 1999; Laws 2005, c. 421, § 1, emerg. eff. June 6, 2005.
2023 Oklahoma Statutes › Title 60. Property › §60-658.1A. Mineral interests generating intangible personal property.

Mineral interests which have generated intangible personal property may be presumed by the district court to be abandoned and subject to the provisions that apply to mineral interests covered by Section 658.1 of this title and Sections 271 through 277 of Title 84 of the Oklahoma Statutes if the court determines that the mineral interests should have been reported to the State Treasurer but were not so reported as required by the Uniform Unclaimed Property Act.
Added by Laws 1985, c. 85, § 1, eff. Nov. 1, 1985. Amended by Laws 1991, c. 331, § 17, eff. Sept. 1, 1991; Laws 1999, c. 10, § 6, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-659. Additional conditions leading to presumption of abandonment.

Unless otherwise provided in the Uniform Unclaimed Property Act or by other statute of this state, intangible personal property is subject to the custody of this state as unclaimed property if the conditions raising a presumption of abandonment under Sections 651.1 and 651.2 through 658.1A of this title are satisfied, and:
1. The last-known address, as shown on the records of the holder, of the apparent owner is in this state;
2. The records of the holder do not reflect the identity of the person entitled to the property and it is established that the last-known address of the person entitled to the property is in this state;
3. The records of the holder do not reflect the last-known address of the apparent owner, and it is established that:
a.
the last-known address of the person entitled to the property is in this state, or
b.
the holder is a domiciliary or a government or governmental subdivision or agency of this state and has not previously paid or delivered the property to the state of the last-known address of the apparent owner or other person entitled to the property;
4. The last-known address, as shown on the records of the holder, of the apparent owner is in a state that does not provide by law for the escheat or custodial taking of the property or its escheat or unclaimed property law is not applicable to the property, and the holder is a domiciliary, government, or governmental subdivision or agency, including a municipality, of this state;
5. The last-known address, as shown on the records of the holder, of the apparent owner is in a foreign nation and the holder is a domiciliary or a government or governmental subdivision or agency of this state; or
6. The transaction out of which the property arose occurred in this state, and
a.
(1)
the last-known address of the apparent owner or other person entitled to the property is unknown, or
(2)
the last-known address of the apparent owner or other person entitled to the property is in a state that does not provide by law for the escheat or custodial taking of the property or its escheat or unclaimed property law is not applicable to the property, and
b.
the holder is a domiciliary of a state that does not provide by law for the escheat or custodial taking of the property or its escheat or unclaimed property law is not applicable to the property.
Added by Laws 1967, c. 107, § 9, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 18, eff. Sept. 1, 1991; Laws 2000, c. 136, § 5, eff. July 1, 2000.
2023 Oklahoma Statutes › Title 60. Property › §60-662. Notice and publication of lists of abandoned property.

A. The State Treasurer shall cause at least two notices to be published during the year following the report required by Section 661 of this title in a legal newspaper of general circulation in the county in this state in which is located the last-known address of any person to be named in the notice. Different legal newspapers of general circulation may be used for each notice. If no address is listed or if the address is outside this state, the notice must be published in the county within this state which is the principal place of business of the holder of the abandoned property, or in an Oklahoma newspaper which the State Treasurer believes most likely to be seen by the owner of the property or by heirs of the owner.
B. The published notice must be entitled "Notice of Names of Persons Appearing to be Owners of Abandoned Property", and contain:
1. The names in alphabetical order and last-known address, if any, of persons listed in the report and entitled to notice within the county as specified in subsection A of this section;
2. A statement that information concerning the property and the name and last-known address of the holder may be obtained by any person possessing an interest in the property by addressing an inquiry to the State Treasurer; and
3. A statement that the property is in the custody of the State Treasurer and all claims must be directed to the State Treasurer.
C. The State Treasurer is not required to publish in the notice any items of less than Fifty Dollars ($50.00) unless the State Treasurer considers their publication to be in the public interest.
D. The State Treasurer shall provide electronic access to the new names and last-known addresses of all persons reported to the State Treasurer as owners of unclaimed property on an Internet web site. The State Treasurer shall take reasonable steps to publicize the existence of this web site and shall publish an advertisement no less than once each calendar quarter in a legal newspaper of general circulation in each county of this state.
Added by Laws 1967, c. 107, § 12, emerg. eff. April 24, 1967. Amended by Laws 1982, c. 278, § 8, eff. Jan. 1, 1983; Laws 1991, c. 331, § 21, eff. Sept. 1, 1991; Laws 1999, c. 10, § 8, eff. July 1, 1999; Laws 2003, c. 224, § 7, eff. July 1, 2003; Laws 2005, c. 124, § 2, eff. Nov. 1, 2005; Laws 2008, c. 108, § 3, emerg. eff. May 2, 2008; Laws 2009, c. 433, § 2, eff. Nov. 1, 2009.
2023 Oklahoma Statutes › Title 60. Property › §60-663. Payment or delivery of abandoned property.

A. A person who is required to file a report under Section 661 of this title shall at the same time pay or deliver to the State Treasurer all abandoned property required to be reported after first deducting therefrom expenses incurred in the mailing of notices required by subsection E of Section 661 of this title and any offsets as provided by law. Any funds or property subject to aggregate reporting shall be delivered at the same time as the report.
B. A holder may file a written explanation of an error in the presumption of abandonment of any previously reported and paid or delivered property. If the property has not been claimed by the owner and the State Treasurer is satisfied an error has been made, a refund of the payment or delivery of the property shall be made to the holder.
C. The holder of an ownership interest under Section 655 of this title shall deliver a duplicate certificate or other evidence of ownership if the holder does not issue certificates of ownership to the State Treasurer. Upon delivery of a duplicate certificate to the State Treasurer, the holder and any transfer agent, registrar, or other person acting for or on behalf of a holder in executing or delivering the duplicate certificate is relieved of liability as provided in Section 664 of this title to every person, including any person acquiring the original certificate or the duplicate of the certificate issued to the State Treasurer, for losses or damages resulting to any person by the issuance and delivery to the State Treasurer of the duplicate certificate.
D. Property removed from a safe deposit box or other safekeeping depository is received by the State Treasurer subject to the right of the holder to be reimbursed for the cost of the opening and to any valid lien or contract providing for the holder to be reimbursed for unpaid rent or storage charges. The State Treasurer shall reimburse the holder out of the proceeds remaining after deducting the expenses incurred by the State Treasurer in selling the property. The liability of the State Treasurer for this reimbursement to the holder shall be limited to the proceeds of the sale remaining after deducting the expenses incurred by the State Treasurer.
Added by Laws 1967, c. 107, § 13, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 22, eff. Sept. 1, 1991; Laws 1999, c. 10, § 9, eff. July 1, 1999; Laws 2003, c. 224, § 8, eff. July 1, 2003; Laws 2004, c. 318, § 4, eff. July 1, 2004; Laws 2005, c. 124, § 3, eff. Nov. 1, 2005; Laws 2008, c. 108, § 4, emerg. eff. May 2, 2008.
2023 Oklahoma Statutes › Title 60. Property › §60-665. Dividends, interest, or other increments realized or accruing after payment or delivery.

Whenever property other than money is paid or delivered to the State Treasurer under the Uniform Unclaimed Property Act, the owner is entitled to receive from the State Treasurer dividends, interest, or other increments realized or accruing on the property at or before liquidation or conversion thereof into money.
Added by Laws 1967, c. 107, § 15, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 24, eff. Sept. 1, 1991; Laws 1999, c. 10, § 11, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-666. Periods of limitation - Effect - Application.

A. The expiration after September 1, 1991, of any period of time specified by contract, statute, or court order, during which a claim for money or property can be made or during which an action or proceeding may be commenced or enforced to obtain payment of a claim for money or to recover property, does not prevent the money or property from being presumed abandoned property or affect any duty to file a report or to pay or deliver abandoned property to the State Treasurer as required by the Uniform Unclaimed Property Act.
B. No action or proceeding may be commenced by the State Treasurer with respect to any duty of a holder under the Uniform Unclaimed Property Act more than four (4) years after the holder files the report pursuant to Section 661 of this title or ten (10) years after the duty arose, whichever is earlier.
C. Notwithstanding the provisions of subsection B of this section or any other provision of law, the expiration of any period of time specified by law during which an action or proceeding may be commenced or enforced to obtain payment of a claim for money or recovery of property shall not serve as a defense in any action or proceeding brought by or on behalf of the State Treasurer against any federal, state or local government or governmental subdivision, agency, entity, officer or appointee thereof, for the payment or delivery of any abandoned property to the State Treasurer pursuant to the Uniform Unclaimed Property Act or to enforce or collect any penalty provided by the Uniform Unclaimed Property Act.
D. The provisions of subsection C of this section shall apply to all abandoned property held by any federal, state or local government or governmental subdivision, agency, entity, officer or appointee thereof, at the time of enactment, or at any time thereafter, regardless of when such property became or becomes presumptively abandoned.
Added by Laws 1967, c. 107, § 16, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 25, eff. Sept. 1, 1991; Laws 1999, c. 10, § 12, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-667. Sale of abandoned property from safe deposit boxes - Securities.

A. Except as provided in subsections B and C of this section, when the State Treasurer determines it to be economically feasible, the Treasurer shall sell abandoned property from safe deposit boxes to the highest bidder at public sale in whatever city in the state affords in the judgment of the State Treasurer the most favorable market for the property involved. The State Treasurer may decline the highest bid and reoffer the property for sale if in the judgment of the State Treasurer the bid is insufficient. If in the judgment of the State Treasurer the probable cost of sale exceeds the value of the property, it need not be offered for sale. Any sale held under this section must be preceded by a single publication of notice, at least three (3) weeks in advance of sale in a legal newspaper of general circulation in the county where the property is to be sold, the county of residence of the holder and the county of the last-known address of the owner. If no address is listed or if the address is outside this state, the notice shall be published in an Oklahoma newspaper which the State Treasurer believes is most likely to be seen by the owner of the property or by heirs of the owner.
B. Securities listed on an established stock exchange must be sold at prices prevailing at the time of sale on the exchange. Other securities may be sold over the counter at prices prevailing at the time of sale or by another method the State Treasurer considers advisable. The liquidation of securities shall be exempt from the procedures set forth in subsection A of this section.
C. Unless the State Treasurer considers it to be in the best interest of the state to do otherwise, all securities, other than those presumed abandoned under Section 655 of this title, delivered to the State Treasurer must be held for at least one (1) year before the State Treasurer may sell them.
D. The purchaser at any sale conducted by the State Treasurer pursuant to the Uniform Unclaimed Property Act takes the property, free of all claims of the owner or prior holder thereof and of all persons claiming through or under them. The State Treasurer shall execute all documents necessary to complete the transfer of ownership.
Added by Laws 1967, c. 107, § 17, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 26, eff. Sept. 1, 1991; Laws 1998, c. 385, § 13, eff. July 1, 1998; Laws 1999, c. 10, § 13, eff. July 1, 1999; Laws 2003, c. 224, § 9, eff. July 1, 2003; Laws 2004, c. 318, § 5, eff. July 1, 2004; Laws 2005, c. 124, § 4, eff. Nov. 1, 2005; Laws 2011, c. 261, § 5, eff. Nov. 1, 2011; Laws 2019, c. 150, § 1, eff. July 1, 2019.
2023 Oklahoma Statutes › Title 60. Property › §60-668. Unclaimed Property Fund - Deposits - Deductions.

A. There is hereby created in the State Treasury the "Unclaimed Property Fund", the principal of which shall constitute a trust fund for persons claiming any interest in any property delivered to the state under the Uniform Unclaimed Property Act and may be invested as hereinafter provided and shall not be expended except as provided in the Uniform Unclaimed Property Act. All funds received under the Uniform Unclaimed Property Act, including the proceeds from the sale of abandoned property under Section 667 of this title, shall forthwith be deposited by the State Treasurer in the Unclaimed Property Fund, herein created, except that the State Treasurer may before making any deposit to the fund deduct:
1. All costs in connection with the sale of abandoned property;
2. All costs of mailing and publication in connection with any abandoned property including the cost of custody services for unclaimed securities;
3. Reasonable service charges not to exceed four percent (4%) of the monies accruing to the state under the Uniform Unclaimed Property Act, which may be used to defray the administrative costs, including costs necessary to retain legal counsel to ensure compliance with the Uniform Unclaimed Property Act, or to acquire computer hardware and software to be used exclusively to help administer the unclaimed property program;
4. An amount equal to fifteen percent (15%) of the funds accruing to the state pursuant to a contract with the State Treasurer providing information leading to the delivery of unclaimed property held by a holder to the State Treasurer to be deposited in the Unclaimed Property Clearinghouse Fund; and
5. An amount not to exceed twenty-five percent (25%) of the value of the funds in an action to enforce the Uniform Unclaimed Property Act, which is to be used solely to pay attorney fees to any person who was authorized by the State Treasurer to bring the action.
B. Before making a deposit to the Unclaimed Property Fund, the State Treasurer shall record the name and last-known address of each person appearing from the holders' reports to be entitled to the abandoned property and of the name and last-known address of each insured person or annuitant, and with respect to each policy or contract listed in the report of a life insurance corporation, its number, the name of the corporation, and the amount due. The record shall be available for public inspection at all reasonable business hours.
Added by Laws 1967, c. 107, § 18, emerg. eff. April 24, 1967. Amended by Laws 1990, c. 102, § 1, operative July 1, 1990; Laws 1999, c. 10, § 14, eff. July 1, 1999; Laws 1999, c. 292, § 1, eff. July 1, 1999; Laws 2002, c. 95, § 1, eff. July 1, 2002; Laws 2003, c. 224, § 10, eff. July 1, 2003; Laws 2004, c. 318, § 6, eff. July 1, 2004; Laws 2009, c. 433, § 3, eff. Nov. 1, 2009; Laws 2019, c. 150, § 2, eff. July 1, 2019.
2023 Oklahoma Statutes › Title 60. Property › §60-668.1. Unclaimed Property Clearinghouse Fund.

A. There is hereby created in the State Treasury a revolving fund for the State Treasurer to be designated the "Unclaimed Property Clearinghouse Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of monies deposited to the fund pursuant to Section 668 of this title. All monies accruing to the credit of the fund are appropriated to the State Treasurer. The State Treasurer may budget and expend monies from the fund for the purpose of making payment for the mailing, publication and sale costs associated with abandoned property, and to persons, firms, or corporations who are regularly engaged in the business of notifying states about property which may be subject to the provisions of unclaimed property statutes of those states. The State Treasurer may enter into contracts with these persons, firms or corporations performing these services, which services may include the examination of any party subject to examination under the Uniform Unclaimed Property Act. The State Treasurer may delegate all necessary authority to act in the State Treasurer's behalf to such persons, firms or corporations to enforce the provisions of the Uniform Unclaimed Property Act.
B. The State Treasurer shall be authorized to expend monies from the Unclaimed Property Clearinghouse Fund in payment of a reasonable fee not to exceed fifteen percent (15%) of the delivered funds to a person, firm, or corporation contracting with the State Treasurer providing information leading to the delivery of unclaimed property held by a holder to the State Treasurer. Such payment shall not be made until the funds have been deposited with the State Treasurer.
C. The State Treasurer is authorized to purchase services, including legal services, in order to locate and effect the delivery of property and related owner information to assist the State Treasurer in the Treasurer's duties related to the administration of the Uniform Unclaimed Property Act. The purchase of such services, other than legal services, shall be chosen by a solicitation of proposals on a competitive basis, but shall be exempt from the provisions of The Oklahoma Central Purchasing Act.
Added by Laws 1990, c. 102, § 2, operative July 1, 1990. Amended by Laws 1999, c. 10, § 15, eff. July 1, 1999; Laws 2001, c. 133, § 8, emerg. eff. April 24, 2001; Laws 2004, c. 318, § 7, eff. July 1, 2004; Laws 2009, c. 433, § 4, eff. Nov. 1, 2009; Laws 2019, c. 150, § 3, eff. July 1, 2019.
2023 Oklahoma Statutes › Title 60. Property › §60-668.2. Petty cash fund for administration of unclaimed property program.

There is hereby created a petty cash fund for the State Treasurer to be used exclusively for administrative costs of the unclaimed property program. The amount of the petty cash fund shall not exceed Five Hundred Dollars ($500.00). The Office of Management and Enterprise Services shall prescribe all forms, systems and procedures for administering the petty cash fund.
Added by Laws 2019, c. 150, § 4, eff. July 1, 2019.
2023 Oklahoma Statutes › Title 60. Property › §60-669. Control and management of monies in Unclaimed Property Fund.

The State Treasurer is hereby vested with authority and the responsibility for the control and management of all monies in the Unclaimed Property Fund as provided for in the Uniform Unclaimed Property Act. It shall be the duty of the State Treasurer to take such steps as may be necessary to preserve the principal of monies accruing to the Unclaimed Property Fund as a trust for persons claiming any interest in any property delivered to the state pursuant to the provisions of the Uniform Unclaimed Property Act.
Added by Laws 1967, c. 107, § 19, emerg. eff. April 24, 1967. Amended by Laws 1984, c. 107, § 1, emerg. eff. April 9, 1984; Laws 1991, c. 331, § 27, eff. Sept. 1, 1991; Laws 1999, c. 10, § 16, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-670. Determination of amount of reserve - Payment of excesses.

The State Treasurer shall determine, from time to time, what amount of unclaimed property in custody should be retained as a reserve in order to ensure that all claims presented by persons legally establishing a right to any unclaimed property shall be paid promptly. In making such determination, the State Treasurer shall take into account the following:
1. The actual experience of other states having unclaimed property laws, as to the amount of claims presented and established as compared to the total amount of property taken into state custody;
2. Such actuarial or other experience or statistics as may be available to show the frequency of the discovery of missing persons or their unknown heirs;
3. Any other discoverable and relevant data having a tendency to establish the amount of reserve necessary for the purpose stated in this section.
The State Treasurer, after having found and determined the reserve necessary as stated in this section, shall pay all amounts in custody in excess of the necessary reserve into the State Treasury to the credit of the General Revenue Fund.
When monies are deposited to the credit of the General Revenue Fund, all rights of any owner of unclaimed property to resort against the money so paid into the General Revenue Fund shall terminate, but the right of any person legally establishing a claim to any property right which has been taken into the custody of the State Treasurer shall be preserved and the value thereof shall be paid from such reserve.
Added by Laws 1967, c. 107, § 20, emerg. eff. April 24, 1967. Amended by Laws 1968, c. 75, § 1, emerg. eff. March 25, 1968; Laws 1984, c. 107, § 2, emerg. eff. April 9, 1984; Laws 1999, c. 10, § 17, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-671. Insufficiency of reserve.

If, at any time, the reserve as provided for in the Uniform Unclaimed Property Act is insufficient to pay in full established claims, the State Treasurer immediately shall:
1. Redetermine, on the basis of past experience, the percentage necessary to be maintained in the reserve; and
2. Cease to make any payments to the General Revenue Fund until:
a.
all validly established claims as provided for in the Uniform Unclaimed Property Act have been paid, and
b.
there is accumulated in the reserve the sum required to be kept therein under the redetermination, whereupon the State Treasurer shall resume payments to the General Revenue Fund in accordance with the terms of the Uniform Unclaimed Property Act.
Added by Laws 1967, c. 107, § 21, emerg. eff. April 24, 1967. Amended by Laws 1984, c. 107, § 3, emerg. eff. April 9, 1984; Laws 1991, c. 331, § 28, eff. Sept. 1, 1991; Laws 1999, c. 10, § 18, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-672. Investment of reserve fund.

The State Treasurer shall have the care, custody, and management of the reserve fund, and may invest it, at the best realizable rate, in accordance with the investment policies of the State Treasurer and the provisions of state law governing the investment of public funds of the State of Oklahoma. The income from such investments shall be paid into the State Treasury to the credit of the General Revenue Fund.
Added by Laws 1967, c. 107, § 22, emerg. eff. April 24, 1967. Amended by Laws 1984, c. 107, § 4, emerg. eff. April 9, 1984; Laws 1999, c. 10, § 19, eff. July 1, 1999; Laws 2008, c. 108, § 5, emerg. eff. May 2, 2008.
2023 Oklahoma Statutes › Title 60. Property › §60-674. Claim for abandoned property.

A. A person, excluding another state, claiming an interest in any property delivered to the State Treasurer may file a claim on a form prescribed by the State Treasurer and verified by the claimant. The date of filing of a claim shall be the date it is received by the State Treasurer with all supporting documentation from the claimant. Any information submitted by a claimant which is required to be submitted to the State Treasurer to establish a claim may be kept confidential by the State Treasurer if it contains personal financial information of the claimant, personal identifying information such as the address, date of birth, telephone number or email address of the claimant, Social Security numbers, birth certificates or similar documents related to the parentage of an individual, or any other document which is confidential by statute if in the custody of another public agency or person.
B. The State Treasurer shall consider each claim within ninety (90) days after it is filed and give written notice to the claimant if the claim is denied in whole or in part. The notice may be given by mailing it to the last address, if any, stated in the claim as the address to which notices are to be sent. If no address for notices is stated in the claim, the notice may be mailed to the last address, if any, of the claimant as stated in the claim. No notice of denial need be given if the claim fails to state either the address to which notices are to be sent or the address of the claimant.
C. If a claim is allowed, the State Treasurer shall pay over or deliver to the claimant the property or the amount the State Treasurer actually received or the net proceeds if it has been sold by the State Treasurer, together with any additional amount required by Section 665 of this title, but no person shall have any claim under this section against the state, the holder, any transfer agent, registrar or other person acting for or on behalf of the state or a holder, for any appreciation or depreciation in the value of the property or any earnings that might otherwise accrue, after sale of the property by the State Treasurer.
Added by Laws 1967, c. 107, § 24, emerg. eff. April 24, 1967. Amended by Laws 1988, c. 281, § 10, operative July 1, 1988; Laws 1991, c. 331, § 29, eff. Sept. 1, 1991; Laws 1999, c. 10, § 20, eff. July 1, 1999; Laws 2000, c. 136, § 6, eff. July 1, 2000; Laws 2001, c. 133, § 9, emerg. eff. April 24, 2001; Laws 2003, c. 224, § 11, eff. July 1, 2003; Laws 2011, c. 261, § 1, eff. Nov. 1, 2011; Laws 2019, c. 150, § 5, eff. July 1, 2019.
2023 Oklahoma Statutes › Title 60. Property › §60-674.1. Limitation on service fees for recovery of funds or property - Mineral proceeds as payment for services prohibited.

A. No person who:
1. Informs a potential claimant of any unclaimed funds or other property, tangible or intangible, held pursuant to the Uniform Disposition of Unclaimed Property Act that such claimant may be entitled to claim such unclaimed property; or
2. Files a claim for any funds or other property, tangible or intangible, on behalf of a claimant of such funds or property,
shall contract for or receive from the claimant, for services, an amount that exceeds twenty-five percent (25%) of the value of the funds or property recovered.
If the funds or property involved are mineral proceeds, the amount for services shall not include a portion of the underlying minerals or any production payment, overriding royalty, or similar payment.
In the event that the claimant of such funds or property is deceased and did not personally agree to the fee in writing, a fee for recovery can only be collected from each identified heir, devisee or legatee that has affirmatively agreed to that fee in writing.
B. The provisions of this section shall apply to contracts executed on or after November 1, 2021.
Added by Laws 1990, c. 301, § 1, emerg. eff. May 1, 1990. Amended by Laws 2021, c. 326, § 1, eff. Nov. 1, 2021.
2023 Oklahoma Statutes › Title 60. Property › §60-674.2. Property delivered to the State Treasurer.

If any person claims an interest in any property delivered to the State Treasurer in which the owner of the property is determined to be deceased, the State Treasurer shall not pay over or deliver to the claimant property as provided in Section 651 et seq. of this title, unless the claimant provides the following items:
1. A certified copy of letters of administration or letters testamentary from the probate of the estate of the decedent naming the claimant as the personal representative of the estate of the decedent;
2. A certified copy of the decree of distribution from the probate of the estate of the decedent determining the claimant to be entitled to receive such property through the estate of the decedent;
3. If the owner of the property executed an inter vivos trust which provided for the disposition of the property of the owner, a properly verified copy of the trust instrument which shows the claimant is the trustee or beneficiary of the trust or otherwise entitled to the property reported;
4. If the property is derived from real property located in Oklahoma, a certified copy of a final decree quieting title of the decedent's real property, determining the claimant to be the successor in interest of decedent's ownership interest;
5. If the value of the property is Five Thousand Dollars ($5,000.00) or more, a certified copy of the death certificate of the owner of the property;
6. If the value of the property is Ten Thousand Dollars ($10,000.00) or less, a signed affidavit executed by the claimant stating that the claimant is entitled to receive such property, the reason the claimant is entitled to receive such property, that there has been no probate of the estate of the deceased owner, that no probate is contemplated and that claimant will indemnify the state for any loss, including attorney fees, should another claimant assert a prior right to the property.
The State Treasurer may require other reasonable documentation, in addition to the above items, to determine the validity of the claim.
Added by Laws 1994, c. 304, § 1, eff. Sept. 1, 1994. Amended by Laws 1996, c. 334, § 6, eff. Nov. 1, 1996; Laws 1999, c. 84, § 1, eff. Nov. 1, 1999; Laws 1999, c. 426, § 1, eff. Nov. 1, 1999; Laws 2001, c. 133, § 10, emerg. eff. April 24, 2001; Laws 2003, c. 224, § 12, eff. July 1, 2003; Laws 2010, c. 241, § 4, emerg. eff. May 10, 2010; Laws 2012, c. 131, § 2, eff. Nov. 1, 2012.
NOTE: Laws 1999, c. 10, § 21 repealed by Laws 1999, c. 426, § 4, eff. Nov. 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-675. Determination of claims - Payment.

A. The State Treasurer shall consider any claim filed under the Uniform Unclaimed Property Act and may hold a hearing and receive evidence concerning it. The procedure to be followed hereunder shall be as prescribed by the Administrative Procedures Act. If a hearing is held, the State Treasurer shall prepare a finding and decision in writing on each claim filed, stating the substance of any evidence heard by the State Treasurer and the reasons for the State Treasurer’s decision. The decision shall be a public record.
B. Upon approval by the State Treasurer, the claim shall be paid forthwith from the Unclaimed Property Fund. The claim shall be paid without deduction for costs of notices or sale or for service charges.
C. The State Treasurer shall not pay monies to rightful owners, or their heirs, devisees, and assigns, exceeding the reimbursement amount the Treasurer shall receive from the Mineral Owner’s Fund attributable to such payments to rightful owners, or their heirs, devisees, and assigns.
D. Claims against the Mineral Owner’s Fund shall be subject to the same statutory requirements and administrative rules as applicable to claims under the Uniform Unclaimed Property Act.
Added by Laws 1967, c. 107, § 25, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 30, eff. Sept. 1, 1991; Laws 1999, c. 10, § 22, eff. July 1, 1999; Laws 2009, c. 433, § 5, eff. Nov. 1, 2009; Laws 2010, c. 241, § 5, emerg. eff. May 10, 2010.
2023 Oklahoma Statutes › Title 60. Property › §60-677. Declining receipt of property - Delivery of property before presumed abandoned - Sale of securities.

A. The State Treasurer may decline to receive any property reported under the Uniform Unclaimed Property Act which the State Treasurer considers to have a value less than the expense of giving notice and of sale. The State Treasurer may promulgate rules pursuant to this subsection.
B. A holder, with the written consent of the State Treasurer and upon conditions and terms prescribed by the State Treasurer, may report and deliver property before the property is presumed abandoned. If a property holder reports and delivers property to the State Treasurer before it is presumed abandoned under the Uniform Unclaimed Property Act and it is in the best interest of the property owner for the property to be treated as abandoned, the Treasurer shall treat the property as abandoned.
C. The State Treasurer may decline to accept weapons abandoned in safe deposit boxes which become property subject to the Uniform Unclaimed Property Act. Such property shall be deposited with a local sheriff or municipal police department.
D. If a claimant under the Uniform Unclaimed Property Act makes a verifiable and proper claim, but fails to properly transfer securities into the claimant's name within ninety (90) days of claim approval by the State Treasurer, the State Treasurer may, upon notice to claimant, sell and convert such securities to cash for the benefit of the claimant.
Added by Laws 1967, c. 107, § 27, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 32, eff. Sept. 1, 1991; Laws 1999, c. 10, § 24, eff. July 1, 1999; Laws 2004, c. 318, § 8, eff. July 1, 2004; Laws 2005, c. 124, § 5, eff. Nov. 1, 2005; Laws 2012, c. 131, § 3, eff. Nov. 1, 2012.
2023 Oklahoma Statutes › Title 60. Property › §60-677.1. Destruction of property having insubstantial commercial value.

If the State Treasurer determines after investigation that any property delivered under the Uniform Unclaimed Property Act has insubstantial commercial value, the State Treasurer may destroy or otherwise dispose of the property at any time. No action or proceeding may be maintained against the state or any officer or against the holder for or on account of any action taken by the State Treasurer pursuant to this section.
Added by Laws 1991, c. 331, § 33, eff. Sept. 1, 1991. Amended by Laws 1999, c. 10, § 25, eff. July 1, 1999; Laws 2006, c. 233, § 3, eff. Nov. 1, 2006.
2023 Oklahoma Statutes › Title 60. Property › §60-678. Report may be required - Failure to report property - Examination of records.

A. The State Treasurer may require any 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 the Uniform Unclaimed Property Act. If the State Treasurer has reason to believe that any person has failed to report property in accordance with the Uniform Unclaimed Property Act, the State Treasurer may make a demand by certified mail, return receipt requested, that such report be made and filed with the State Treasurer. The report of abandoned property or any other report required shall be made and filed with the State Treasurer within sixty (60) days after receipt of the demand.
B. The State Treasurer may at reasonable times and upon reasonable notice examine the records of any person if the State Treasurer has reason to believe that such person has failed to report property that should have been reported pursuant to the Uniform Unclaimed Property Act. The State Treasurer may contract with any other person or entity to conduct the examination on behalf of the State Treasurer. The State Treasurer may keep confidential documents and working papers obtained or compiled by the State Treasurer or the State Treasurer's agents or designated representatives in the course of conducting an examination, except for information required to be subject to public inspection pursuant to the Uniform Unclaimed Property Act.
C. If a person is treated under Section 656 of this title as the holder of the property only insofar as the interest of the business association in the property is concerned, the State Treasurer, pursuant to subsection B of this section, may examine the records of the person if the State Treasurer has given the notice required by subsection B of this section to both the person and the business association at least ninety (90) days before the examination.
D. If a holder fails after September 1, 1991, to maintain the records required by Section 679.1 of this title and the records of the holder available for the periods subject to the Uniform Unclaimed Property Act are insufficient to permit the preparation of a report, the State Treasurer may require the holder to report and pay the amount that is reasonably estimated from any available records.
Added by Laws 1967, c. 107, § 28, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 34, eff. Sept. 1, 1991; Laws 1999, c. 10, § 26, eff. July 1, 1999; Laws 2008, c. 108, § 6, emerg. eff. May 2, 2008; Laws 2019, c. 150, § 6, eff. July 1, 2019.
2023 Oklahoma Statutes › Title 60. Property › §60-679. Proceeding to compel delivery - Costs of examinations or investigations.

A. The State Treasurer may bring an action in a court of appropriate jurisdiction to enforce the Uniform Unclaimed Property Act.
B. The actual cost of any examination or investigation incurred by the State Treasurer in administering any provision of the Uniform Unclaimed Property Act may be borne by the holder examined or investigated, provided that in no case may the charges exceed the value of the property found to be reportable and deliverable as a result of the examination, and either:
1. A written demand for a report shall have been made and not forthcoming in time specified in Section 678 of this title;
2. A report has not been received, and the examination or investigation by the State Treasurer establishes that the holder willfully or without reasonable cause has failed to report property reportable under the Uniform Unclaimed Property Act and property reportable thereunder is discovered by such examination or investigation; or
3. A report has been received and the examination or investigation by the State Treasurer establishes that the holder willfully or without reasonable cause has failed to report additional property reportable under the Uniform Unclaimed Property Act.
C. The cost of examination made pursuant to subsection C of Section 678 of this title may be imposed only against the business association.
Added by Laws 1967, c. 107, § 29, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 35, eff. Sept. 1, 199; Laws 1999, c. 10, § 27, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-679.1. Records of names and addresses of owners and instruments.

A. Every holder required to file a report under Section 661 of this title, as to any property for which it has obtained the last-known address of the owner, shall maintain a record of the name and last-known address of the owner for ten (10) years after the property is reported, except to the extent that a shorter time period is provided in subsection B of this section or by rule of the State Treasurer or the holder's regulatory agency or commission.
B. Any business association that sells in this state its travelers checks, money orders, or other similar written instruments, other than third-party bank checks on which the business association is directly liable, or that provides such instruments to others for sale in this state, shall maintain a record of the instruments while they remain outstanding, indicating the state and date of issue for three (3) years after the date the property is reportable.
Added by Laws 1991, c. 331, § 36, eff. Sept. 1, 1991. Amended by Laws 1999, c. 10, § 28, eff. July 1, 1999.