§60-677. Declining receipt of property - Delivery of property
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/ok/title-60-property/60-677A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
before presumed abandoned - Sale of securities.
A. The State Treasurer may decline to receive any property reported under the Uniform Unclaimed Property Act which the State Treasurer considers to have a value less than the expense of giving notice and of sale. The State Treasurer may promulgate rules pursuant to this subsection.
B. A holder, with the written consent of the State Treasurer and upon conditions and terms prescribed by the State Treasurer, may report and deliver property before the property is presumed abandoned. If a property holder reports and delivers property to the State Treasurer before it is presumed abandoned under the Uniform Unclaimed Property Act and it is in the best interest of the property owner for the property to be treated as abandoned, the Treasurer shall treat the property as abandoned.
C. The State Treasurer may decline to accept weapons abandoned in safe deposit boxes which become property subject to the Uniform Unclaimed Property Act. Such property shall be deposited with a local sheriff or municipal police department.
D. If a claimant under the Uniform Unclaimed Property Act makes a verifiable and proper claim, but fails to properly transfer securities into the claimant's name within ninety
(90)days of claim approval by the State Treasurer, the State Treasurer may, upon notice to claimant, sell and convert such securities to cash for the benefit of the claimant. Added by Laws 1967, c. 107, § 27, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 32, eff. Sept. 1, 1991; Laws 1999, c. 10, § 24, eff. July 1, 1999; Laws 2004, c. 318, § 8, eff. July 1, 2004; Laws 2005, c. 124, § 5, eff. Nov. 1, 2005; Laws 2012, c. 131, § 3, eff. Nov. 1, 2012.