Oklahoma § 60-678 - Report may be required - Failure to report property Examination of records

§ 60-678. Report may be required - Failure to report property Examination of records

Oklahoma Statutes - Title 60. Property

A. The State Treasurer may require any person who has not filed

a report to file a verified report stating whether or not the person

is holding any unclaimed property reportable or deliverable under

the Uniform Unclaimed Property Act. If the State Treasurer has

reason to believe that any person has failed to report property in

accordance with the Uniform Unclaimed Property Act, the State

Treasurer may make a demand by certified mail, return receipt

requested, that such report be made and filed with the State

Treasurer. The report of abandoned property or any other report

required shall be made and filed with the State Treasurer within

sixty (60) days after receipt of the demand.

B. The State Treasurer may at reasonable times and upon

reasonable notice examine the records of any person if the State

Treasurer has reason to believe that such person has failed to

report property that should have been reported pursuant to the

Uniform Unclaimed Property Act. The State Treasurer may contract

with any other person or entity to conduct the examination on behalf

of the State Treasurer. The State Treasurer may keep confidential

documents and working papers obtained or compiled by the State

Treasurer or the State Treasurer's agents or designated

representatives in the course of conducting an examination, except

for information required to be subject to public inspection pursuant

to the Uniform Unclaimed Property Act.

C. If a person is treated under Section 656 of this title as

the holder of the property only insofar as the interest of the

business association in the property is concerned, the State

Treasurer, pursuant to subsection B of this section, may examine the

records of the person if the State Treasurer has given the notice

required by subsection B of this section to both the person and the

business association at least ninety (90) days before the

examination.

D. If a holder fails after September 1, 1991, to maintain the

records required by Section 679.1 of this title and the records of

the holder available for the periods subject to the Uniform

Unclaimed Property Act are insufficient to permit the preparation of

a report, the State Treasurer may require the holder to report and

pay the amount that is reasonably estimated from any available

records.

Added by Laws 1967, c. 107, § 28, emerg. eff. April 24, 1967.

Amended by Laws 1991, c. 331, § 34, eff. Sept. 1, 1991; Laws 1999,

c. 10, § 26, eff. July 1, 1999; Laws 2008, c. 108, § 6, emerg. eff.

May 2, 2008; Laws 2019, c. 150, § 6, eff. July 1, 2019.