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The Oregon Administrative Rules contain OARs filed through March 15, 2014
 
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DEPARTMENT OF STATE LANDS

 

DIVISION 40

UNCLAIMED PROPERTY CLAIMS/FINDERS RULES

Establishment of Administrative Fee Charge

141-040-0005

Administrative Fees

The Department may deduct a maximum charge of ten percent of the proceeds of each unclaimed property claim with a value of $100 or more that the Department approves and for which the Department expended efforts to locate the owner under ORS 98.356(4).

Stat. Auth.: ORS 98.302 - 98.436 & 273.045
Stats. Implemented: ORS 98
Hist.: LB 16, f. 4-4-74, ef. 4-25-74; LB 2-1995, f. & cert. ef. 6-15-95; DSL 12-1999, f. & cert. ef. 4-5-99; DSL 8-2002, f. 12-24-02 cert. ef. 1-1-03; DSL 3-2003, f. 12-15-03, cert. ef. 1-1-04

Procedures for Publication of Reports About Unclaimed
and Escheat Property

141-040-0010

Purpose

The purpose of these rules is to establish a uniform procedure for responding to requests for information about unclaimed and escheat property reported or remitted to the Department.

Stat. Auth.: ORS 98.302 - 98.436 & 273. 045
Stats. Implemented: ORS 98
Hist.: LB 2-1989, f. 5-19-89, cert. ef. 6-1-89; LB 2-1995, f. & cert. ef. 6-15-95; DSL 12-1999, f. & cert. ef. 4-5-99; DSL 8-2002, f. 12-24-02 cert. ef. 1-1-03; DSL 3-2003, f. 12-15-03, cert. ef. 1-1-04

141-040-0020

Definitions

As used in OAR 141-040-0010 to 141-040-0220:

(1) "Agent" means a person who is filing a claim to recover unclaimed property on behalf of a claimant.

(2) "Claimant" means a person or entity claiming to be the rightful owner, or a person claiming to be legally authorized to act on behalf of a person or entity claiming to be the rightful owner, and claiming to be legally entitled to unclaimed property held by the Department.

(3) "Department" means the Department of State Lands.

(4) “Entity” includes a domestic or foreign limited liability company, corporation, professional corporation, foreign corporation, domestic or foreign nonprofit corporation, domestic or foreign cooperative corporation, profit or nonprofit unincorporated association, business trust, domestic or foreign general or limited partnership, or trust.

(5) "Escheat property" means property paid or delivered to the Department because the distributee, devisee, or heir could not be found, or refused to accept the property.

(6) "Finder" means any person who independently searches for and finds the owners of unclaimed or escheat property for a fee paid by the owner.

(7) "Finder's Report of Unclaimed or Escheat Property" means a report that lists the names of owners of unclaimed or escheat property in the custody of the Department, and may include additional information that would assist in finding the owners.

(8) “Governmental Entity” means the federal government, the state, any agency or political subdivision of the state or federal government, or any unit of local government.

(9) "Holder" means a person, wherever organized or domiciled, who is in possession of property belonging to another, a trustee or indebted to another on an obligation.

(10) "Owner" means a depositor in case of a deposit, a beneficiary in case of a trust other than a deposit in trust, a creditor, claimant, or payee in case of other intangible property, or a person, or the person's legal representative, having a legal or equitable interest in property.

(11) "Unclaimed Property" means any asset that is paid or delivered to the Department pursuant to ORS 98.352 because the owner cannot be found by the company or person holding the asset.

Stat. Auth.: ORS 98.302 - 98.436 & 273.045
Stats. Implemented: ORS 98
Hist.: LB 2-1989, f. 5-19-89, cert. ef. 6-1-89; LB 2-1995, f. & cert. ef. 6-15-95; DSL 12-1999, f. & cert. ef. 4-5-99; DSL 8-2002, f. 12-24-02 cert. ef. 1-1-03; DSL 3-2003, f. 12-15-03, cert. ef. 1-1-04; DSL 7-2008, f. 12-10-08, cert. ef. 1-1-09; DSL 1-2014, f. 1-13-14, cert. ef. 2-1-14

141-040-0030

Finder's Report

(1) The Department may compile information and produce a Finder's Report of Unclaimed and Escheat Property in a format chosen by the Department.

(2) To obtain a Finder's Report, a person shall submit a written request to the Department along with the appropriate fee. The Department may require a waiting period of up to 20 days if payment is made by other than cashier's check or money order.

(3) The fee for the Finder's Report shall be a minimum of $150 per release.

Stat. Auth.: ORS 98.302 - 98.436 & 273.045
Stats. Implemented: ORS 98
Hist.: LB 2-1989, f. 5-19-89, cert. ef. 6-1-89; LB 2-1995, f. & cert. ef. 6-15-95; DSL 12-1999, f. & cert. ef. 4-5-99; DSL 8-2002, f. 12-24-02 cert. ef. 1-1-03; DSL 3-2003, f. 12-15-03, cert. ef. 1-1-04; DSL 7-2008, f. 12-10-08, cert. ef. 1-1-09

Rules for Recovery of Unclaimed Property

141-040-0200

Purpose

The purpose of OAR 141-040-0200 to 141-040-0220 is to establish a uniform procedure for making claims to recover unclaimed money and property reported or remitted to the Department pursuant to ORS 98.352.

Stat. Auth.: ORS 98.302 - 98.436 & 273.045
Stats. Implemented: ORS 98
Hist.: LB 27, f. 8-28-75, ef. 9-25-75; LB 2-1995, f. & cert. ef. 6-15-95; DSL 12-1999, f. & cert. ef. 4-5-99; DSL 8-2002, f. 12-24-02 cert. ef. 1-1-03; DSL 3-2003, f. 12-15-03, cert. ef. 1-1-04

141-040-0211

Claim Format

(1) Pursuant to ORS 98.392, a person claiming interest in unclaimed property reported or remitted to the Department may file a claim for the property or proceeds from the sale of the property at any time.

(2) A person shall file a claim with the Department on forms provided by the Department, or in a format acceptable by the Department.

(3) A complete claim shall be considered filed upon its receipt by the Department.

(4) In order to be complete, each claim shall include:

(a) The name and current photo identification or other satisfactory proof of identity of the claimant, such as a driver's license or passport;

(b) Current mailing address of the claimant and satisfactory documentation to prove current residence;

(c) A description of the claimant's interest in the property;

(d) Evidence of the claimant's Business Tax ID, or Federal Tax ID number for business or governmental entity claims;

(e) Evidence of ownership satisfactory to establish the validity of the claim; and

(f) An indemnification agreement in a form provided by or acceptable to the Department.

(g) The signature of the claimant on the claim form or other document acceptable to the Department. If the amount of the claim is greater than $100, the signature of the claimant must be notarized.

(5) In addition to the information required under subsection (4) of this section, if the claimant is the original owner, a description of the nature of the property.

(6) In addition to the information required under subsection (4) of this section, if the claimant is other than the original owner, a description of the relationship of the claimant to the original owner, and documentation of the basis on which both the original owner and the claimant have legal authority to claim the property. If the original owner of the unclaimed property is deceased and the claimant is an heir or devisee, then the claimant must describe the claimant's relationship to the deceased owner and include documentation that establishes that claimant is the heir or devisee of the original owner. If the owner is a minor or is incapacitated, then the claimant must provide proof of guardianship or conservatorship. Proof of guardianship or conservatorship must be no more than 60 days old at the time the claim is submitted.

(7) In addition to the information required under subsection (4) of this section, if the claim is being filed by a finder:

(a) The claim shall include an original Power of Attorney or written notarized statement provided by each claimant to the finder authorizing the finder to act on behalf of the claimant.

(b) The finder shall be licensed and comply with the requirements of ORS 703.401 to 703.470. The finder shall include a copy of this license issued by the Oregon Department of Public Safety, Standards and Training with the claim.

(c) An affidavit signed by the claimant for specified types of property as determined by the Department.

(8) In addition to the information required under subsections (4) to (7) of this section, in order to expedite the determination of the rightful owner, a claimant may include the claimant's Social Security number.

Stat. Auth.: ORS 98.302 - 98.436 & 273.045
Stats. Implemented: ORS 98
Hist.: LB 27, f. 8-28-75, ef. 9-25-75; LB 5-1987, f. & ef. 8-18-87; LB 2-1995, f. & cert. ef. 6-15-95; DSL 12-1999, f. & cert. ef. 4-5-99, Renumbered from 141-040-0215; DSL 8-2002, f. 12-24-02 cert. ef. 1-1-03; DSL 3-2003, f. 12-15-03, cert. ef. 1-1-04; DSL 7-2008, f. 12-10-08, cert. ef. 1-1-09; DSL 2-2010, f. 12-13-10, cert. ef. 1-1-11

141-040-0212

Proof of Ownership

(1) The burden is on the claimant to provide sufficient proof to establish the elements of the claim, and it is the claimant's responsibility to contact persons and to search out documents relating to the claim.

(2) Name similarity alone is not sufficient to prove entitlement to unclaimed property.

(3) Documents submitted to establish ownership may include, but are not limited to:

(a) Copies of any documents showing addresses, including but not limited to utility bills, tax records, or original correspondence addressed to the owner at the address shown on the Department's records;

(b) Passbooks, statements of accounts, canceled checks, deposit slips;

(c) Copy of, or original stock certificate in the owner's name, copy of prior dividend payment or statement, stock transmittal receipt, brokerage firm statement;

(d) Original insurance policies, premium or dividend statements;

(e) Original deposit slips or receipts;

(f) Safe deposit box rental receipt or statement regarding the box;

(g) Original certified or photo copies of court documents;

(h) Newspaper articles including marriage announcements, birth or obituary notices;

(i) Family or church records, baptismal certificates, or personal correspondence;

(j) Public or business records;

(k) Signature verification cards from financial institutions;

(l) Testimonial evidence, including properly notarized affidavits; or

(m) Any other forms of evidence the Department may consider sufficient to satisfy a reasonable and prudent person under the circumstances of the particular claim.

(4) When a claimant submits a claim on behalf of the original owner of unclaimed property, the claimant shall provide:

(a) Evidence to establish the claimant’s legal authority to make a claim for the original owner; and

(b) Evidence to establish the original owner’s right to the unclaimed property.

(5) When a claimant submits a claim on behalf of a successor to the original owner of the property, the claimant shall provide:

(a) Evidence to establish the claimant’s legal authority to make a claim for the successor to the original owner; and

(b) Evidence to establish the original owner’s right to the unclaimed property; and

(c) Evidence to establish the successor’s right to the unclaimed property as a successor to the original owner. The evidence that may be used to establish the successor’s right to the unclaimed property as a successor to the original owner consists of but is not limited to, certified copies of probate documents, small estate affidavit, Final Decree of Distribution, a will, death certificates, Letters Testamentary, or Guardianship or Conservatorship, or other appropriate documentation.

(6) When a claimant submits a claim on behalf of a business or governmental entity, the claimant’s authority to make a claim on behalf of the entity must be established to the satisfaction of the Department in accordance with the requirements of OAR 141-040-0213.

(7) As an alternative to the information required under this section, an authorized employee filing on behalf of a business or governmental entity may submit a completed business affidavit on the form supplied by the Department that indemnifies the Department and assures repayment in the event a superior claim is submitted. The Department at its sole discretion, may reject a business affidavit for all or a portion of the claimed properties and require the evidence under this section.

(8) If the claim is for a negotiable instrument, (cashier's check, money order, certified check, traveler's check) the payee shall be considered to be the owner unless the purchaser possesses the instrument or provides evidence of payment satisfying the obligation to the payee.

(9) If the claim is for securities, claimants are entitled to receive either the securities that the holder delivered to the Department if they still remain with the Department, or the proceeds received from the sale, less any amounts deducted pursuant to ORS 98.386.

(10) If the claim is for securities or negotiable instruments, the claimant shall surrender to the Department with the claim the certificate or the original instrument, if the claimant possesses it. If the claimant does not surrender the original certificate, the Department may require the claimant to provide a lost instrument bond.

(11) If a claim is made on behalf of a creditor of an owner of unclaimed property, the creditor shall provide a certified copy of the writ of garnishment.

(12) In the case of competing claims, the conflict must be resolved by the claimants prior to a claim being deemed complete.

Stat. Auth.: ORS 98.302 - 98.436 & 273.045
Stats. Implemented: ORS 98
Hist.: LB 2-1995, f. & cert. ef. 6-15-95; DSL 12-1999, f. & cert. ef. 4-5-99; DSL 8-2002, f. 12-24-02 cert. ef. 1-1-03; DSL 3-2003, f. 12-15-03, cert. ef. 1-1-04; DSL 7-2008, f. 12-10-08, cert. ef. 1-1-09; DSL 2-2010, f. 12-13-10, cert. ef. 1-1-11

141-040-0213

Claims Submitted on Behalf of Business Entity or Governmental Entity; Proof of Authority

(1) When a claim is submitted by an employee of a business or governmental entity, the employee shall provide an original statement on the letterhead of the entity executed by an individual authorized to bind the entity, such as an officer of the corporation, the director of a state agency, county executive, or city manager, managing member of the limited liability company, or partner of a partnership, that recites the authority of the individual to bind the entity, and that authorizes the employee to submit a claim on behalf of the entity.

(2) When a claim is submitted by an agent on behalf of a business or governmental entity, in addition to the documentation required of all other claimants under OAR 141-040-0211, the agent must provide:

(a) An original power of attorney that authorizes the agent to submit a claim on behalf of the entity that is executed by an individual authorized to bind the entity, such as an officer of the corporation, director of a state agency, county executive, or city manager, managing member of the limited liability company, or partner of a partnership; and

(b) An original statement on the letterhead of the entity executed by an individual authorized to bind the entity, such as an officer of the corporation, the director of a state agency, county executive, or city manager, managing member of the limited liability company, or partner of a partnership, that recites the authority of the individual to bind the entity, and that acknowledges that the individual has executed a power of attorney authorizing the agent to submit a claim on behalf of the entity. The statement must include the name and address of the agent and direction to the Department for payment of any property determined to be due to the entity. If payment is to be made to the agent, the agent must also provide his/her federal tax identification number.

(3) Department staff will not discuss any claim or inquiry with an agent or employee of an entity until the agent or employee has provided to the Department the documentation required in subsection (1) or (2) of this section as the case may be.

(4) When a claim is filed on behalf of a dissolved business entity, in addition to the information required by subsection (1) and (2) above, the person submitting the claim must provide:

(a) A copy of the articles of dissolution if the entity is a corporation or limited liability company; or

(b) A copy of the partnership agreement or other agreement between the partners describing how partnership assets are to be distributed if the entity is a partnership.

(5) When a claim is filed on behalf of an individual but the claim concerns unclaimed property held for the benefit of a business under an assumed business name or “doing business as”, in addition to the documentation required of all other claimants under OAR 141-040-0211, the claimant must provide documentation establishing claimant’s ownership of the business, such as tax statements or business license. All warrants issued by the Department in such claims shall be made payable to the claimant “doing business as” the name of the assumed business name.

(6) When a claim is filed on behalf of a business entity in bankruptcy, in addition to the documentation required of all other claimants under OAR 141-040-0211, the claimant must provide:

(a) A copy of the order appointing the bankruptcy trustee; and

(b) If the claim is being filed by an agent, an original power of attorney that authorizes the agent to submit a claim on behalf of the trustee in bankruptcy or on behalf of the person or entity authorized by the bankruptcy court to make a claim on behalf of the bankruptcy estate.

(7) When a claim is filed on behalf of a business entity formerly in bankruptcy where the entitlement to the unclaimed property arose before commencement of the bankruptcy, in addition to the documentation required of all other claimants under OAR 141-040-0211, the claimant must provide:

(a) A copy of the order of discharge or other order establishing that the bankruptcy trustee abandoned the bankruptcy estate’s interest in the unclaimed property; and

(b) If the claim is being filed by an agent, the agent must also comply with the requirements of OAR 141-040-0213(2), above.

(8) If the Department receives claims filed by two or more individuals on behalf of the same business or governmental entity, the Department will notify the entity in writing. The notice shall identify the names and addresses of the individuals who submitted the claims and shall request that the entity designate the authorized individual. The Department shall not process either claim unless and until the Department receives written authorization from the entity.

Stat. Auth.: ORS 98.302 - 98.436 & 273.045
Stats. Implemented: ORS 98
Hist.: DSL 7-2008, f. 12-10-08, cert. ef. 1-1-09; DSL 2-2010, f. 12-13-10, cert. ef. 1-1-11

141-040-0214

Review Criteria/Time

(1) The administrator shall approve or deny a claim to recover unclaimed property within 120 days after the claimant files a completed claim form under ORS 98.392.

(2) Except as may be authorized by an agreement between the Department and another agency or entity, when the Department determines that the claim, or some portion thereof, relates to property reported to the Department but held by another agency or entity responsible for reviewing claims and payment of claims, the claim file or relevant copies will be forwarded to the responsible agency or entity. The Department will notify the claimant of the transfer of the claim file and the contact information for the responsible agency or entity. OAR 141-040-0200 through 141-040-0220 (the “Rules for Recovery of Unclaimed Property”) shall not apply to the procedures utilized by the responsible agency or entity in review of the claim.

(3) Except as otherwise provided in subsection (4) of this section, the Department will review claims in the order of receipt.

(4) The Department may expedite the review of a claim where:

(a) The claimant, in the sole discretion of the Department, has provided to the Department evidence of extenuating circumstances warranting expedited review.

(b) The Department’s automated selection technology demonstrates that:

(A) The claimant is the original owner, there are no co-owners, and claimant still lives at the address reported by the holder, or

(B) The claimant is the original owner, there are no co-owners and claimant has provided other information that matches the reported data.

(5) In determining if there is sufficient evidence to support a claim, the Department shall consider:

(a) The age and likelihood of the existence of direct evidence to support the claim;

(b) The existence of any competing claims for the property; and

(c) Any other related evidence the Department determines appropriate under the circumstances of the particular claim.

(6) The Department shall determine whether a preponderance of the evidence proves the claimant is legally entitled to the unclaimed property.

(7) If the Department approves a claim, the Department shall request a warrant from the Oregon State Treasury. If the claim is allowed for funds deposited in the General Fund, the Department shall pay the claim and file a request for reimbursement from the State Treasurer, who shall reimburse the Department within five working days from the fund against which the warrant represented in the claim was issued.

(8) A holder may make payment to or delivery of property to an owner and file a claim with the Department for reimbursement. The Department shall reimburse the holder within 60 days of receiving proof that the owner was paid. The Department may not assess any fee or other service charge to the holder. Upon receiving the funds from the Department, the holder shall assume liability for the claimed asset and hold the Department harmless from all future claims to the property.

(9) If the property is being recovered by a finder who has submitted a Power of Attorney that authorizes disbursement to the finder, the Department shall issue a warrant payable to both the claimant and Finder and mail the warrant to the finder.

(10) When a claim is for the benefit of the heirs of a deceased owner:

(a) If the amount of the claim is less than $1000, the Department shall issue a warrant FBO (For the Benefit of the Heirs of (decedent's name)).

(b) If the amount of the claim is $1000 or more, but less than $5000, the Department shall issue a warrant FBO (For the Benefit of the Heirs of (decedent's name)) and, if the estate was not probated, require the claimant to complete an Affidavit in Lieu of Probate.

(c) If the amount of the claim is $5,000 or more, prior to payment the Department shall require evidence of probate or the filing of probate in accordance with the applicable requirements of Chapters 111, 113–117, Oregon Revised Statutes.

Stat. Auth.: ORS 98.302 - 98.436 & 273.045
Stats. Implemented: ORS 98
Hist.: LB 2-1995, f. & cert. ef. 6-15-95; DSL 12-1999, f. & cert. ef. 4-5-99; DSL 8-2002, f. 12-24-02 cert. ef. 1-1-03; DSL 3-2003, f. 12-15-03, cert. ef. 1-1-04; DSL 7-2008, f. 12-10-08, cert. ef. 1-1-09; DSL 2-2010, f. 12-13-10, cert. ef. 1-1-11; DSL 1-2014, f. 1-13-14, cert. ef. 2-1-14

141-040-0220

Claim Denial/Closure

(1) If the Department requests additional information from the claimant to substantiate a claim, and there is no response from the claimant within 90 days of the request, the Department may close the file.

(2) If the Department is unable to determine legal entitlement from the evidence submitted and any supporting documentation received or provided by supplemental filings, the Department shall give written notice of denial.

(a) The notice of denial shall include the specific reason for denial and shall include a notice of an opportunity for a contested case hearing.

(b) Within 60 days after the date of written notice of denial provided under paragraph (a) of this subsection, the claimant may request a contested case hearing on the matter.

(c) A request for a contested case hearing shall be in writing and shall identify issues of law or fact raised by the denial and include a summary of the evidence of ownership on which the claim was originally submitted.

(d) Within 30 days after the Department receives a request for a contested case hearing submitted under paragraph (c) of this section, the Department shall contact the claimant to schedule a hearing date by mutual agreement. The Department shall confirm the hearing date by written notice to the claimant.

(e) The contested case hearing shall be conducted by a hearings officer appointed by the Director.

(f) Additional evidence shall not be admissible at the hearing, except by mutual consent of the hearing's officer, the claimant and any other parties to the proceeding. If such additional evidence is not admitted, the hearings officer shall terminate the hearing and allow the claimant to resubmit the claim with the new evidence.

Stat. Auth.: ORS 98.302 - 98.436 & 273.045
Stats. Implemented: ORS 98
Hist.: LB 27, f. 8-28-75, ef. 9-25-75; LB 36, f. & ef. 9-1-76; LB 5-1987, f. & ef. 8-18-87; LB 2-1995, f. & cert. ef. 6-15-95; DSL 12-1999, f. & cert. ef. 4-5-99; DSL 8-2002, f. 12-24-02 cert. ef. 1-1-03; DSL 3-2003, f. 12-15-03, cert. ef. 1-1-04; DSL 2-2010, f. 12-13-10, cert. ef. 1-1-11

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