Oklahoma § 60-668 - Unclaimed Property Fund - Deposits - Deductions

§ 60-668. Unclaimed Property Fund - Deposits - Deductions

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 in the Uniform Unclaimed Property Act and shall not be

expended except as provided in the Uniform Unclaimed Property Act.

All funds received under the Uniform Unclaimed Property Act,

including the proceeds from the sale of abandoned property under

Section 667 of this title, shall forthwith be deposited by the State

Treasurer in the Unclaimed Property Fund, except that the State

Treasurer may before making any deposit to the fund deduct:

1. All costs in connection with the sale of abandoned property;

2. All costs of mailing and publication in connection with any

abandoned property including the cost of custody services for

unclaimed securities;

3. Reasonable service charges not to exceed four percent (4%)

of the monies accruing to the state under the Uniform Unclaimed

Property Act, which may be used to defray the administrative costs,

including costs necessary to retain legal counsel to ensure

compliance with the Uniform Unclaimed Property Act, or to acquire

computer hardware and software to be used exclusively to help

administer the unclaimed property program;

4. An amount equal to fifteen percent (15%) of the funds

accruing to the state pursuant to a contract with the State

Treasurer providing information leading to the delivery of unclaimed

property held by a holder to the State Treasurer to be deposited in

the Unclaimed Property Clearinghouse Fund; and

5. An amount not to exceed twenty-five percent (25%) of the

value of the funds in an action to enforce the Uniform Unclaimed

Property Act, which is to be used solely to pay attorney fees to any

person who was authorized by the State Treasurer to bring the

action.

B. Before making a deposit to the Unclaimed Property Fund, the

State Treasurer shall record the name, last-known address of each

person appearing from the holders’ reports, property type, unclaimed

Oklahoma Statutes - Title 60. Property

property identification code, relation code, date of last activity,

reported year, holder name, amount, number of shares of securities,

and name of the securities issuer or stock ticker symbol to be

entitled to the abandoned property and of the name and last-known

address of each insured person or annuitant, and with respect to

each policy or contract listed in the report of a life insurance

corporation, its number, the name of the corporation, and the amount

due. After a period of twelve (12) months has elapsed, the record

shall be available for public inspection during normal business

hours.

Added by Laws 1967, c. 107, § 18, emerg. eff. April 24, 1967.

Amended by Laws 1990, c. 102, § 1, operative July 1, 1990; Laws

1999, c. 10, § 14, eff. July 1, 1999; Laws 1999, c. 292, § 1, eff.

July 1, 1999; Laws 2002, c. 95, § 1, eff. July 1, 2002; Laws 2003,

c. 224, § 10, eff. July 1, 2003; Laws 2004, c. 318, § 6, eff. July

1, 2004; Laws 2009, c. 433, § 3, eff. Nov. 1, 2009; Laws 2019, c.

150, § 2, eff. July 1, 2019; Laws 2024, c. 446, § 3, eff. Nov. 1,

2024; Laws 2025, c. 421, § 3, eff. Nov. 1, 2025.