Or. Admin. R. 170-130-0005 - Definitions
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.
Notes
Statutory/Other Authority: ORS 178.050
Statutes/Other Implemented: ORS 98.319 & ORS 111.005
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