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OK HB3315

Bill

Status

Passed

5/11/2010

Primary Sponsor

Scott Martin

Click for details

Origin

House of Representatives

2010 Regular Session

AI Summary

  • Establishes that a record of check, draft, or similar instrument issuance is prima facie evidence of an obligation under the Uniform Unclaimed Property Act, and allows holders to assert affirmative defenses of payment, satisfaction, discharge, and want of consideration

  • Authorizes the State Treasurer to require holders reporting 15 or more items of abandoned property to file reports electronically

  • Requires claimants of unclaimed property derived from Oklahoma real property of a deceased owner to provide a certified copy of a final decree quieting title to establish entitlement

  • Restricts public access to state check and warrant register information under the Oklahoma Open Records Act until checks are submitted for redemption or cancelled by statute, as a fraud prevention measure

  • Increases various State Treasurer fees: rejected warrant processing from $0.42 to $1.00 per item, stop-payment handling from $10 to $15 per item (maximum from $250 to $325 per day), and extends the annual investment performance report deadline from 30 to 60 days after fiscal year end

Legislative Description

Property; modifying various provisions related to unclaimed property. Emergency.

Property

Last Action

Approved by Governor 05/10/2010

5/11/2010

Committee Referrals

Appropriations and Budget2/2/2010

Full Bill Text

No bill text available