Oregon Administrative Rules
Chapter 170 - OREGON STATE TREASURY
Division 140 - UNCLAIMED PROPERTY CLAIMS
Section 170-140-0135 - Claim Disposition
Universal Citation: OR Admin Rules 170-140-0135
Current through Register Vol. 63, No. 9, September 1, 2024
(1) The Treasurer may close a Claim when:
(a) The
Claimant fails to complete Property Claim Form, the online Unclaimed Property
Portal, or provide required documents within 90 days of the date the Claimant
last provided the Claim Form or required Claim documents;
(b) The Claimant fails to provide additional
or supplemental evidence within 90 days of the date the Treasurer requested;
(c) An Entity fails to designate a
single Agent or Employee as the individual authorized to file a Claim on behalf
of the Entity within 90 days of the Treasurer providing notice; or
(d) A conflict exists between or among two or
more Claimants who filed Claims for the same Property and does not resolve the
conflict with 90 days of the Treasurer providing notice.
(2) The Treasurer will deny a Claim when the Claimant fails to prove by a preponderance of the evidence that the Claimant is legally entitled to the Property.
(3) When the Treasurer finds that the Claimant has sufficiently proven a legal entitlement to the Property, the Treasurer will deliver, or cause to be delivered, the Property due under the Claim. Property will be delivered to or payment issued in the name of the Claimant, except:
(a)
Agent. If
an Agent filed the Claim, the payment will be issued in the name of the
Claimant unless otherwise directed by the Claimant.
(b)
Licensed Finder. If a
Licensed Finder filed the Claim, the payment will be issued in the name of the
Claimant and the Licensed Finder when the Power of Attorney authorizes
disbursement to the Licensed Finder. If the Power of Attorney does not
authorize disbursement to the Licensed Finder, the payment will be issued in
the name of the Claimant.
(c)
Heirs. Payment will be issued for the benefit of the Heirs of the
decedent (FBO) when the value of the Property is $10,000.00 or less. When the
value is more than $10,000.00 the payment will be issued under the probate
terms.
(d)
Business or
Governmental Entity. Issued in the name of the Entity, the Agent, or
both as directed by the Entity; or
(e)
Assumed Business Name.
Issued in the name of the Claimant doing business as the assumed business
name.
Statutory/Other Authority: ORS 98.422 & ORS 178.050
Statutes/Other Implemented: ORS 98.396
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.
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