Title 60 — Title 60 — Property

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 t…

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 aff…

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 provided i…

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 p…

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…

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 ma…

Trees whose trunks stand wholly upon the land of one owner, belong exclusively to him, although their roots grow into the land of another. R.L. 1910 Sec. 6642. R.L.1910, § 6642.

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 su…

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; …

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 …

60 O.S. § 673 Repealed by Laws 1991, c. 331, § 64, eff. Sept. 1, 1991

A. A person, excluding another state, but including a claimant’s representative, claiming an interest in any property paid or delivered to the State Treasurer may file with the State Treasurer a claim on a form prescribed by the State Treasurer and verified by the claimant or the…

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 entitle…

A. If any claimant asserts 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, un…

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 …

60 O.S. § 676 Repealed by Laws 2002, c. 95, § 6, eff. July 1, 2002

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…

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 m…

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 Treasure…

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 Un…

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…

Trees whose trunks stand partly on the land of two or more coterminous owners belong to them in common. R.L. 1910 Sec. 6643. R.L.1910, § 6643.

A. A person who fails to pay or deliver property within the time prescribed by the Uniform Unclaimed Property Act may be required to pay interest at the annual rate of ten percent (10%) on the property or value thereof from the date the property should have been paid or delivered…

The State Treasurer may promulgate necessary rules to carry out the provisions of the Uniform Unclaimed Property Act. Promulgation of any rules shall be in accordance with the Administrative Procedures Act. Any administrative rules of the Oklahoma Tax Commission which are in effe…

This act does not apply to any property held, due and owing in a foreign country and arising out of a foreign transaction. Laws 1967, c. 107, § 32, emerg. eff. April 24, 1967; Laws 1991, c. 331, § 39, eff. Sept. 1, 1991.

60 O.S. § 683 Repealed by Laws 1991, c. 331, § 64, eff. Sept. 1, 1991

Continuation of agreements - Joint enforcement of act. A. The State Treasurer may enter into agreements with other states to exchange information needed to enable this or another state to audit or otherwise determine unclaimed personal property that it or another state may be ent…

(a) This act does not relieve a holder of a duty that arose before the effective date of this act to report, pay, or deliver property. A holder who did not comply with the law in effect before the effective date of this act is subject to the applicable enforcement and penalty pro…

60 O.S. § 684 Repealed by Laws 1991, c. 331, § 64, eff. Sept. 1, 1991

A. At any time after personal property has been paid or delivered to the State Treasurer under the Uniform Unclaimed Property Act, another state may recover the property if: 1. The property was subjected to custody by this state because the records of the holder did not reflect t…

The Uniform Unclaimed Property Act (1981) shall be applied and construed so as to effectuate its general purpose to make uniform the law with respect to unclaimed property among states enacting it. Added by Laws 1991, c. 331, § 43, eff. Sept. 1, 1991.

Section 651 et seq. of this title may be cited as the Uniform Unclaimed Property Act. Added by Laws 1967, c. 107, § 36, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 44, eff. Sept. 1, 1991; Laws 1999, c. 10, § 33, eff. July 1, 1999.

Commission to State Treasurer – Transfer of administrative rules. A. Effective July 1, 1999, all duties relating to administration of the Uniform Unclaimed Property Act shall be transferred from the Oklahoma Tax Commission to the State Treasurer. Funds sufficient to administer th…

The owner of a life estate must keep the buildings and fences in repair from ordinary waste, and must pay the taxes and other annual charges, and a just proportion of extraordinary assessments benefiting the whole inheritance. R.L. 1910 Sec. 6644. R.L.1910, § 6644.

A thing is deemed to be affixed to land when it is attached to it by roots, as in the case of trees, vines or shrubs, or embedded in it, as in the case of walls, or permanently resting upon it, as in the case of buildings, or permanently attached to what is thus permanent, as by …

Coterminous owners are mutually bound equally to maintain: 1. The boundaries and monuments between them. 2. The fences between them, unless one of them chooses to let his land lie open as a public common, in which case, if he afterwards encloses it, he must refund to the other a …

All Postal Savings System accounts created by the deposits of persons whose last-known addresses are in this state which have not been claimed by the persons entitled thereto before May 1, 1971, are presumed to have been abandoned by their owners and are declared to escheat and b…

The Attorney General shall request from the Bureau of Accounts of the United States Treasury Department records providing the following information: the names of depositors at the post offices of this state whose accounts are unclaimed, their last addresses as shown by the record…

The Attorney General may bring proceedings in the district court of Oklahoma County to escheat unclaimed Postal Savings System accounts held by the United States Treasury Department. A single proceeding may be used to escheat as many accounts as may be available for escheat at on…

The Attorney General shall notify depositors whose accounts are to be escheated as follows: 1. A letter advising that a Postal Savings System account in the name of the addressee is about to be escheated and setting forth the procedure by which a deposit may be claimed shall be m…

The Attorney General shall present a copy of each final judgment of escheat to the United States Treasury Department for payment of the principal due and the interest computed under regulations of the United States Treasury Department. The payment received shall be deposited in t…

This state shall indemnify the United States for any losses suffered as a result of the escheat of unclaimed Postal Savings System accounts. The burden of the indemnification falls upon the fund into which the proceeds of the escheated accounts have been paid. Laws 1971, c. 41, §…

This act may be cited as the Escheat of Postal Savings System Accounts Act. Laws 1971, c. 41, § 7, emerg. eff. March 25, 1971.

remainders. In any case where, by will or deed or other instrument, title to real estate is in a tenant for life or other person having the right to the use thereof and income therefrom, with the remainder interest left to one or more contingent remaindermen, so that it is imposs…

leases. Said trustee shall have the power and authority to make valid oil and gas leases and other mining leases, upon said lands, for a term not to exceed ten (10) years, and as long thereafter as oil, gas or other minerals may be produced in paying quantities, said leases to be…

Payments to life tenant or other person. Under proper court order the trustee shall be authorized to invest income from royalties pursuant to the provisions of the Oklahoma Uniform Prudent Investor Act, unless otherwise provided by law, which investments shall remain intact until…

A joint interest is one owned by several persons in either real or personal property in equal shares, being a joint title created by a single instrument, will or transfer when expressly declared in the instrument, will or transfer to be a joint tenancy, or as between husband and …

The provisions of this act shall be severable and if any section, subsection, sentence or clause of this act is for any reason held to be invalid such holding shall not affect the validity fo the remaining portions thereof. Added by Laws 1945, p. 213, § 2, emerg. eff. May 7, 1945…

perpetuities - Intent. Any interest in real or personal property that would violate the rule against perpetuities shall be reformed, or construed within the limits of the rule, to give effect to the general intent of the creator of that interest whenever that general intent can b…

As used in this act, unless otherwise clearly required by the context: 1. "Beneficiary" means and includes any person entitled, but for his disclaimer, to take an interest, as grantee; as donee; under any assignment or instrument of conveyance or transfer; by succession to a disc…