SB 324 Summary

• Amends Oklahoma's unclaimed property law to authorize licensed private investigators to access confidential holder reports under specified procedures and restrictions set by the State Treasurer.

• Requires the State Treasurer to implement procedures by January 1, 2016, making holder reports available to private investigators licensed under the Oklahoma Security Guard and Private Investigator Act.

• Private investigators must keep report information confidential and follow all restrictions established by the Treasurer; violations subject to financial penalties and reporting to the Council on Law Enforcement Education and Training.

• Allows the State Treasurer to require holders reporting 15 or more property items to file reports online and to promulgate rules necessary for implementation.

• Authorizes the State Treasurer to design procedures and promulgate rules to enforce the act's provisions and assess penalties for violations.