Oklahoma § 52-554 - Transmission of funds - Escrow report - Claims against
Full text of Oklahoma Oklahoma Statutes § 52-554 — Transmission of funds - Escrow report - Claims against, with citation guidance and answers to common questions.
§ 52-554. Transmission of funds - Escrow report - Claims against
Mineral Owner's Fund.
A. The Corporation Commission shall, by the close of the second
working day following the day on which the funds are received from
holders, transmit the funds to the State Treasurer, who shall hold
the funds in trust for the mineral owners in the Mineral Owner's
Fund.
B. The Corporation Commission shall, within ninety (90) days of
receipt, provide copies of escrow reports required by Section 551 et
seq. of this title to the State Treasurer. The State Treasurer
shall include these names in the regular annual process to locate
the owners of unclaimed property.
C. Claims against the Mineral Owner's Fund shall be submitted
to the State Treasurer, and upon sufficient proof of ownership, the
State Treasurer shall pay monies to the rightful owner or to the
Oklahoma Statutes - Title 52. Oil and Gas
rightful owner’s heirs, devisees or assigns from the Unclaimed
Property Fund, to be reimbursed quarterly from the Mineral Owner's
Fund, for such claim.
D. The Corporation Commission shall retain ten percent (10%) of
each amount of funds transferred to the State Treasurer to cover the
Corporation Commission’s cost of administration of the requirements
of Section 551 et seq. of this title.
Added by Laws 1983, c. 320, § 4. Amended by Laws 1999, c. 10, § 35,
eff. July 1, 1999; Laws 2003, c. 468, § 6, eff. July 1, 2003.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 52-554
What does Oklahoma Statutes § 52-554 cover?
Section 52-554 ("Transmission of funds - Escrow report - Claims against") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 52-554?
A common citation format is "Oklahoma Statutes § 52-554" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 52-554 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.