Oklahoma § 60-651.2 - Sum payable on check, certified check, cashier's check,

§ 60-651.2. Sum payable on check, certified check, cashier's check,

draft, or similar instrument - Presumption of abandonment - Burden

of proof - Affirmative defenses.

A. Any sum payable on a check, certified check, cashier's

check, draft, or similar instrument, except those subject to Section

651.1 of this title, on which a banking or financial organization is

directly liable, which has been outstanding for more than five (5)

years after it was payable or after its issuance if payable on

demand, is presumed abandoned, unless the owner, within five (5)

years, has communicated in writing with the banking or financial

organization concerning it or otherwise indicated an interest as

evidenced by a memorandum or other record, on file, prepared by an

employee thereof.

B. A record of the issuance of a check, draft, or similar

instrument shall be prima facie evidence of an obligation.

C. The burden of proof upon the State Treasurer in claiming

property from a holder, who is also the issuer, shall be satisfied

by demonstrating the issuance of the instrument and the passage of

the requisite period of abandonment as provided in subsection A of

this section.

D. The holder may assert affirmative defenses of:

1. Payment;

2. Satisfaction;

3. Discharge; and

4. Want of consideration.

Oklahoma Statutes - Title 60. Property

Added by Laws 1991, c. 331, § 3, eff. Sept. 1, 1991.

Laws 2010, c. 241, § 1, emerg. eff. May 10, 2010.

Amended by