Oklahoma § 60-658.1 - Mineral interests in land

§ 60-658.1. Mineral interests in land

Any mineral interest in land in Oklahoma shall be subject to

sale under the provisions of Sections 271.1 through 277 of Title 84

of the Oklahoma Statutes if it generates an intangible property

interest which is presumed abandoned for a period of fifteen (15)

years under the Uniform Unclaimed Property Act or under similar laws

of another state.

All holders of intangible property interests generated by a

mineral interest in land in Oklahoma shall report to the State

Treasurer, in addition to the reporting otherwise required by law,

the names and the last-known addresses of owners of record of the

unclaimed mineral interest, the legal description of the land

affected, and the extent of the property rights in the mineral

interest. Only one report with respect to each owner and mineral

interest is necessary; subsequent reports must include complete

information with respect to all new owners and new unclaimed mineral

interests.

The State Treasurer shall send a copy of the report required by

this section to the Attorney General and the district attorney of

the county in which the land is located. Except to a claimant of

the unclaimed mineral interest, or as necessary to effectuate a

judicial sale as set forth in Section 271.1 of Title 84 of the

Oklahoma Statutes, the legal description of the mineral interest and

the extent of the property rights in the mineral interest shall be

Oklahoma Statutes - Title 60. Property

deemed confidential and not released to the general public by the

State Treasurer, Attorney General or district attorney. The State

Treasurer shall send a report reflecting only the names and lastknown addresses of owners of record of the unclaimed mineral

interest to the county clerk of the county in which the land is

located, and the clerk shall maintain the list for public viewing.

The clerk shall also report to the board of county commissioners

that the report has been received, and note the receipt in the

minutes of the meeting, so the public can be informed.

The State Treasurer is authorized to develop procedures for the

implementation of the Uniform Unclaimed Property Act.

Added by Laws 1978, c. 229, § 1, eff. Jan. 1, 1979. Amended by Laws

1988, c. 146, § 2, operative July 1, 1988; Laws 1991, c. 331, § 16,

eff. Sept. 1, 1991; Laws 1999, c. 10, § 5, eff. July 1, 1999; Laws

2005, c. 421, § 1, emerg. eff. June 6, 2005.

§60-658.1A. Mineral interests generating intangible personal

property.

Mineral interests which have generated intangible personal

property may be presumed by the district court to be abandoned and

subject to the provisions that apply to mineral interests covered by

Section 658.1 of this title and Sections 271 through 277 of Title

84 of the Oklahoma Statutes if the court determines that the mineral

interests should have been reported to the State Treasurer but were

not so reported as required by the Uniform Unclaimed Property Act.

Added by Laws 1985, c. 85, § 1, eff. Nov. 1, 1985. Amended by Laws

1991, c. 331, § 17, eff. Sept. 1, 1991; Laws 1999, c. 10, § 6, eff.

July 1, 1999.