(a) Intangible property and any income or increment derived therefrom held in a fiduciary capacity for the benefit of another person is presumed abandoned unless the owner, within seven (7) years after it has become payable or distributable, has increased or decreased the principal, accepted payment of principal or income, communicated concerning the property, or otherwise indicated an interest as evidenced by a memorandum on file with the fiduciary. 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. 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. It's the weekend and I don't have insurance yet. A. may reasonably be considered abandonedprovided there is no evidence to suggest the rightful owner intends to retrieve it themselves, that is. 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. D. If the tenant removes the personal property within the time limitations provided in this section, the landlord is entitled to the cost of storage for the period during which the property remained in the landlord's safekeeping plus all other costs that accrued under the rental agreement. Unclaimed Funds Held By Life Insurance Corporations. It also pays to know what might become of your abandoned property should you be forced to leave it behind. Tenant holding over as tenant at will - Expiration of unwritten contract3 41-3. (b) Funds in an individual retirement account or a retirement plan for self-employed individuals or similar account or plan established under the Internal Revenue laws of the United States are not payable or distributable within the meaning of subsection (a) of this section unless, under the terms of the account or plan, distribution of all or part of the funds would then be mandatory. 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. 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. If you need to locate your abandoned property, you can do so via the, Oklahoma State Treasurers Unclaimed Property Program, , whose purpose is to return the unclaimed or abandoned property to its rightful owner.. The holder has in its records an address for the apparent owner which the holders records do not disclose to be inaccurate; 2. (C) neither the insured nor any person appearing to have an interest in the policy within the preceding two (2) years, according to the records of the company, has assigned, readjusted, or paid premiums on the policy, subjected the policy to loan, or corresponded in writing with the company concerning the policy, or otherwise indicated an interest as evidenced by a memorandum or other record on file prepared by an employee of the company. D. Not later than March 1, or in the case of property reported by life insurance companies, not later than September 1, of the year immediately following the report required by Section 661 of this title, the State Treasurer shall mail a notice to each person whose last-known address is listed in the report and who appears to be entitled to property of the value of Fifty Dollars ($50.00) or more presumed abandoned under the Uniform Unclaimed Property Act and any beneficiary of a life or endowment insurance policy or annuity contract for whom the State Treasurer has a last-known address. 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. 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. F. Reports filed by a holder shall remain confidential except for that information required to be subject to public inspection pursuant to the Uniform Unclaimed Property Act. 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) the insured has attained, or would have attained if he were living, the limiting age under the mortality table on which the reserve is based; (B) the policy was in force at the time the insured attained, or would have attained, the limiting age specified in subparagraph (A) of this paragraph; and. Administrative rules are located at this link on the Secretary of State's website: https://rules.ok.gov/code 2. JavaScript seems to be disabled in your browser. 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. ). If you are a landlord who has come into the possession of abandoned personal property left by a former tenant, you may dispose of the property in whatever manner you see fitprovided you have made an attempt to contact the original owner. 7. Aside from that, however, Oklahoma doesnt provide much information as to what happens to the abandonment of personal property, especially when its abandoned in a public place. What qualifies as an abandoned home in Oklahoma? Such payment shall not be made until the funds have been deposited with the State Treasurer. 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. 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. Oklahoma Unclaimed Property Negative Reports Negative reports refer to reports that need to be filed when there is no unclaimed property to report or remit to the state for the year. Every person, corporation, or other business association, banking or financial organization, life insurance corporation, utility, court or public authority must complete the following checklist before filing their Oklahoma Unclaimed Property Report. 3. Items such as appliances, furniture, clothes, and the like all fall under. Had another relationship with the banking or financial organization concerning which the owner has: a. communicated in writing with the banking or financial organization, or. Upon presumed abandonment of the automatically renewable time deposit, the holder shall report the presumed abandonment to the State Treasurer and may, at the holders option, either retain the property or pay or deliver it to the State Treasurer. 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. OKLAHOMA STATUTES TITLE 41. Please check official sources. 19. In the case of unclaimed funds of Fifty Dollars ($50.00) or more held or owing under any life or endowment insurance policy or annuity contract, the full name and last-known address of the insured or annuitant and of the beneficiary according to the records of the insurance company holding or owing the funds; 3. In the case of the contents of a safe deposit box or other safekeeping repository or of other tangible personal property, a description of the property and the place where it is held, which may be inspected by the State Treasurer, and any amounts, including offsets for drilling costs and rent, owing to the holder; 4. 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. 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. Statements in this article E. Not more than one hundred twenty (120) days before filing the report required by this section, the holder in possession of property presumed abandoned and subject to custody as unclaimed property under the Uniform Unclaimed Property Act shall send written notice to the apparent owner at the owners last-known address informing the owner that the holder is in possession of property subject to the Uniform Unclaimed Property Act if: 1. If, at the time provided for delivery in Section 663 of this title, any penalty or forfeiture in the payment of dividends, distributions, or other sums payable as a result of the property would result from its delivery to the State Treasurer, the time for delivery shall be extended until the time when no penalty or forfeiture would result. 60-26. If the property is removed to a storage property, the cost should include the actual storage cost, and the removal from the premises and to the place of . B. The holder regularly imposes such charges or ceases payment of interest. Their dream car is a Black 1938 Rolls-Royce Wraith. (d) No sum payable on a travelers check, money order, or similar written instrument, other than a third-party check, described in subsections (a) and (b) of this section may be subjected to the custody of this state as unclaimed property unless: (1) the records of the issuer show that the travelers check, money order, or similar written instrument was purchased in this state; (2) the issuer has its principal place of business in this state and the records of the issuer do not show the state in which the travelers check, money order, or similar written instrument was purchased; or. A. may reasonably be considered abandonedprovided there is no evidence to suggest the rightful owner intends to it! And I do n't have insurance yet has in its records an address for the apparent owner which holders... 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