Or. Admin. Code § 170-140-0135

Current through Register Vol. 63, No. 12, December 1, 2024

Section 170-140-0135 - Claim Disposition

(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.

Or. Admin. Code § 170-140-0135

OST 2-2021, adopt filed 06/29/2021, effective 7/1/2021

Statutory/Other Authority: ORS 98.422 & ORS 178.050

Statutes/Other Implemented: ORS 98.396