Oklahoma City, Oklahoma 73105 | 800-522-8031 . B. Possession of the Self-Service Storage Facility -Abandonment or Surrendering of Occupants Possessions. 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 holders 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. 60-2. It is a crucial piece of information to consider if you believe there is some unclaimed money with your name on it. 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. Securities listed on an established stock exchange must be sold at prices prevailing at the time of sale on the exchange. B. Attorney General means the chief legal officer of this state; 3. No occupant shall use a self-service storage facility for residential purposes. Each owner of a self-service storage facility shall provide a disclosure in the rental agreement, in conspicuous terms and in a conspicuous manner, that the occupant has a duty to safeguard the personal property located in a self-service storage facility from losses and that the owner has no legal obligation to provide insurance to protect the personal property from loss. 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. All monies accruing to the credit of the fund are appropriated to the State Treasurer. Oklahoma Law Enforcement Retirement System. A person making a claim under the Uniform Unclaimed Property Act after the expiration of this period is entitled to receive either the securities delivered to the State Treasurer by the holder, if they still remain in the hands of the State Treasurer, or the proceeds received from sale, less any amounts deducted pursuant to Section 668 of this title, but no person has any claim under this section against the state, the holder, any transfer agent, registrar, or other person acting for or on behalf of a holder for any appreciation in the value of the property occurring after delivery by the holder to the State Treasurer. 2014 Oklahoma Statutes Title 60. USLegal has the lenders!--Apply Now--. Im wondering if the R1200S was a rare motorcycle or if it was very popular. Such payment shall not be made until the funds have been deposited with the State Treasurer. Funds Held by Utilities. Museum means institution which is located in this state and operated by a nonprofit corporation or a public agency primarily for educational, scientific, historic preservation or aesthetic purposes, and which owns, borrows, cares for, exhibits, studies archives or catalogues property. 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. Unclaimed Funds Held By Life Insurance Corporations. 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. Public Information Office; Public Notices. What are the best snow tires for an Acura RDX? Oklahoma Landlord Tenant Law. A. Oklahoma does, however, keep a database of. 5. Domicile means the state of incorporation of a corporation and the state of the principal place of business of an unincorporated person; 6. For purposes of subsection A of this section, property includes interest and dividends. For items left in a rental unit, any property left with the landlord by the former tenant may be considered abandoned. Learn About Oklahoma Property and Real Estate Laws Oklahoma Homestead Law What should I do with abandoned personal property in Oklahoma? 2014 Oklahoma Statutes Title 41. If seven (7) dividends, distributions, or other sums are paid during the seven-year period, the period leading to a presumption of abandonment commences on the date payment of the first such unclaimed dividend, distribution, or other sum became due and payable. Holders reporting to Oklahoma are required to submit their reports electronically for reports that contain 15 or more properties. (g) Commencing two (2) years after the effective date of this act, every change of beneficiary form issued by an insurance company under any life or endowment insurance policy or annuity contract to an insured or owner who is a resident of the state must request the following information: (1) the name of each beneficiary, or if a class of beneficiaries is named, the name of each current beneficiary in the class; (3) the relationship of each beneficiary to the insured.Title 60, Chap. of Title . Browse USLegal Forms largest database of85k state and industry-specific legal forms. f. amounts distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefits; 10. The mailing of notice by first-class mail to the last-known address of the owner by the holder shall constitute compliance with this subsection and, if done, no further act on the part of the holder shall be necessary. D. At the time an interest is presumed abandoned under this section, any dividend, distribution, or other sum then held for or owing to the owner as a result of the interest, and not previously presumed abandoned, is presumed abandoned. A. D. Unless the State Treasurer considers it to be in the best interest of the state to do otherwise, all securities presumed abandoned under Section 655 of this title and delivered to the State Treasurer must be held for at least two (2) years before the State Treasurer may sell them. D. The State Treasurer may accept the holders affidavit as sufficient proof of the facts that entitle the holder to recover money and property under this section. The State Treasurer may postpone the reporting date upon written request by any person required to file a report. The holder must be reimbursed for payment made under this subsection even if the holder paid a person whose claim was barred under subsection A of Section 666 of this title. Enforcement of this law is a matter for a court of proper jurisdiction. Learn more here. Even if they are in the right according to the court or the contract, the landlord must contact law enforcement to carry out a forcible eviction. (a) Subject to subsection (d) of this section and except as hereinafter provided, any sum payable on a travelers check that has been outstanding for more than fifteen (15) years after its issuance is presumed abandoned unless the owner, within fifteen (15) years, has communicated in writing with the issuer concerning it or otherwise indicated an interest as evidenced by a memorandum or other record on file prepared by an employee of the issuer. Apparent owner means the person whose name appears on the records of the holder as the person entitled to property held, issued, or owing by the holder; 2. 6, 198, Construction of Act. Last-known address means that address provided by the occupant in the latest rental agreement or the address provided by the occupant in a subsequent written notice of a change of address; 3. A. A person holding property, tangible or intangible, presumed abandoned and subject to custody as unclaimed property under the Uniform Unclaimed Property Act shall report to the State Treasurer concerning the property as provided in this section. A person who pays or delivers property to the State Treasurer in good faith is relieved of all liability to the extent of the value of the property paid or delivered for any claim then existing or which thereafter may arise or be made in respect to the property. Who is in charge of abandoned property in Oklahoma? As used in the Uniform Unclaimed Property Act, unless the context otherwise requires: 1. This program does, however, primarily deal with unclaimed money in the form of checks, money orders, royalties, etc, so it may be harder to locate vehicles, homes, and the like. B. 5616 Page 2 . In the case of a deposit, increased or decreased its amount or presented the passbook or other similar evidence of the deposit for the crediting of interest; 2. NEW LAW A new section of law to be codified in the Oklahoma Statutes as Section 651.1 of Title 60, unless there is created a duplication in numbering, reads as follows: . 5. (c) For the purpose of this section, a person who holds property as an agent for a business association is deemed to hold the property in a fiduciary capacity for that business association alone, unless the agreement between him and the business association provides otherwise. Communicated in writing with the banking or financial organization concerning the property; 3. 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. A. Owned other property to which the provisions of paragraph 1, 2 or 3 of this subsection apply and if the banking or financial organization communicates in writing with the owner with regard to the property that would otherwise be presumed abandoned under this subsection at the address to which communications regarding the other property are regularly sent; or. C. A holder who has delivered property, including, but not limited to, a certificate of an ownership interest in a business association, other than money to the State Treasurer pursuant to the Uniform Unclaimed Property Act may reclaim the property if still in the possession of the State Treasurer, without paying any fee or other charge, upon filing proof that the owner has claimed the property from the holder. Additional Conditions Leading to Presumption of Abandonment. 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. 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