Okla. Admin. Code § 735:80-3-2 - Owner contact; reporting requirements; "owner generated activity" defined

(a) Property is not presumed abandoned if there has been communication with the owner during the statutory abandonment period. The holder must have evidence to show such communication. OST may, at its discretion, require a holder to produce evidence of mailing of such statements or other business communications during the statutory abandonment period.

(b) The crediting of interest by a holder or the deduction of a service charge by a holder to a savings or checking account does not constitute an increase or decrease in the amount of the deposit. In-house or computer generated dates which reflect the posting of increments to or deductions from an owner's account, shall not be construed as the last owner contact or date of last transaction. [See: 60 O.S. § 652(a)]

(c) "Owner generated activity" means a deposit or withdrawal by an owner; presentation of the passbook for crediting of interest; or a letter from or any other documented contact with the owner concerning the property.

Notes

Okla. Admin. Code § 735:80-3-2

Transferred from 710:80-3-2 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