Okla. Admin. Code § 735:80-1-4

Current through Vol. 42, No. 6, December 2, 2024

Section 735:80-1-4 - Protest procedure; procedure for administrative protest to examination or audit findings or demands for reportable or deliverable property issued to holders

(a) When any holder is aggrieved by the examination findings of the Unclaimed Property Division, directly affecting such holder, the holder on or before sixty (60) days from the date of receipt of the letter of findings and demand notice, may file with the Treasurer, a written protest, under oath, signed by himself or his duly authorized agent, setting out therein:

(1) A statement of findings as determined by the Unclaimed Property Division, the nature of the findings and the amount thereof protested or in controversy;

(2) A clear and concise assignment of each error alleged to have been committed by the Unclaimed Property Division;

(3) The argument and legal authority upon which each assignment of error is made; provided, that the applicant shall not be bound or restricted in such hearing to the arguments and legal authorities contained and cited in said written protest;

(4) A statement of relief or adjustment of the findings or demand sought by the holder; and

(5) A verification by the holder or his duly authorized agent that the statements and facts contained therein are true.

(b) In the written protest, the holder may request an oral hearing. The Treasurer or a designated hearing examiner may grant such hearing, and shall, by written notice, advise the holder of a date, which shall not be less than ten (10) days from the date of mailing of such written notice, when such holder may appear before the Treasurer or the hearing examiner and present arguments and evidence, oral or written, in support of the protest.

(c) Hearings shall be held as soon as practicable. The procedure to be followed in the Hearings will be as prescribed in subchapter 13 of these rules. Within a reasonable time after the hearing, the Treasurer shall make and enter an order in writing in which it shall set forth the disposition made of the protest and a copy of such order shall forthwith be mailed to the holder. In the event an oral hearing is not requested, the Treasurer shall proceed without further notice to examine into the merits of the protest and enter an order in accordance with its findings.

(d) If the holder fails to file a written protest within the sixty (60) days period as extended by the Treasurer, then the examination findings without further action of the Treasurer, will be presumed valid and the holder shall immediately transmit to the Treasurer the demandable property as set out in the letter of findings and demand notice. The Administrator or his or her representative may, at his or her discretion, extend the time for filing a protest for any period of time not to exceed an additional thirty (30) days.

(e) Upon the failure of a holder to transmit to the Treasurer the demandable property, or to file a protest with the Treasurer, the legal counsel to the Treasurer, may cause to be filed an action in a District Court of the State of Oklahoma to compel delivery of the property to the Treasurer. [See: 60 O.S. § 679(a) ]

Okla. Admin. Code § 735:80-1-4

Transferred from 710:80-1-4 at 60 O.S., § 688, eff 7-1-99 (see Editor's Notice published at 17 Ok Reg 217); Amended at 17 Ok Reg 2167, eff 6-12-00