Oregon Administrative Rules
Chapter 170 - OREGON STATE TREASURY
Division 130 - PROCEDURE TO RECOVER ESCHEAT PROPERTY
Section 170-130-0005 - Definitions

Universal Citation: OR Admin Rules 170-130-0005

Current through Register Vol. 63, No. 9, September 1, 2024

For the purposes of these rules, unless the context requires otherwise, the capitalized words and phrases used in these rules have the same meaning a provided in ORS 111.005 and:

(1) "Agent" means a person, other than a Personal Representative, who may file a Petition to recover Escheat Property on behalf of a Claimant.

(2) "Claim" in the context of these rules means the act of asserting a lawful entitlement to Escheat Property.

(3) "Claimant" means a Person or Personal Representative of an Estate making a Claim to recover Escheat Property.

(4) "Escheat Property" means Property that has been transferred to the state and held by the Treasurer and includes proceeds.

(5) "Estate Administrator" mean the Treasury employee appointed by the Treasurer to protect decedents' assets and administer estates under ORS chapters 111 to 119.

(6) "Licensed Finder" means any person who independently searches for and finds Persons that may file a Petition to Claim a right to recover Escheat Property for a fee paid by the Claimant and is licensed by the Department of Public Safety Standards and Training under ORS 703.430.

(7) "Issue" includes adopted children and their Descendants and, when used to refer to Persons who take by Intestate succession, includes all lineal Descendants, except those who are the lineal Descendants of living lineal Descendants.

(8) "Known heir" means an Heir who has been identified and found.

(9) "Person" means individuals, corporations, associations, firms, partnerships, limited liability companies, joint stock companies, and public bodies as defined in ORS 174.109.

(10) "Petition" means a written request made by a Claimant or an Agent to determine whether Claimant is lawfully entitled to Escheat Property.

(11) "Property" has the same meaning as ORS 111.005(27), and includes the proceeds realized from the sale of Personal Property or Real Property.

(12) "Treasurer" means the State Treasurer as established under Article VI, section 4 of the Oregon Constitution or the State Treasurer's designee.

(13) "Treasury" means the Oregon State Treasury, which is the administrative branch of the Office of the State Treasurer.

(14) "U.S. Savings Bonds" means Personal Property that meets the following:

(a) U.S. savings bonds, series A, B, C, D, E, F, G, H, J, AND K, AND U.S. savings notes, governed by 31 C.F.R. 315 ;

(b) Definitive U.S. savings bonds, series EE and HH, governed by 31 C.F.R 353 ; and

(c) Definitive U.S. savings bonds, series I, governed by 31 C.F.R. 360.

Statutory/Other Authority: ORS 178.050

Statutes/Other Implemented: ORS 98.319 & ORS 111.005

Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.