Oklahoma § 74-2245 - Uncollectible accounts receivable

§ 74-2245. Uncollectible accounts receivable

A. The Department may place uncollectible accounts receivable

in a special account for accounting and budgetary purposes. An

"uncollectible account receivable" shall have been uncollectible or

due for at least one (1) year and possess at least one of the

following characteristics:

Oklahoma Statutes - Title 74. State Government

1. The debtor has been discharged from bankruptcy or is

insolvent;

2. The debtor cannot be found or is deceased; or

3. A collection agency has indicated its inability to collect

the debt.

B. If uncollectible accounts receivable are placed in a special

account, the following procedures shall be observed:

1. The proposed uncollectible accounts shall be forwarded to

the Department by the appropriate divisions. The Department shall

then submit the accounts to the Commission and to the State Auditor

and Inspector once each fiscal year for placement into the special

uncollectible account; and

2. The Commission and the State Auditor and Inspector shall

certify those accounts which meet the requirements of this section

as "uncollectible accounts receivable" and shall place those

accounts in the special account created by this section.

C. The special uncollectible accounts receivable account shall

not be used for budgetary purposes in determining the assets of the

Department or any of its divisions. The Department shall take all

reasonable steps to collect all accounts, including those placed in

the special account by operation of this section.

Added by Laws 2005, c. 363, § 46, eff. Nov. 1, 2005.