{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-651","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-651","heading":"Definitions","body":"As used in the Uniform Unclaimed Property Act, unless the\n\ncontext otherwise requires:\n\n1. “Apparent owner” means the person whose name appears on the\n\nrecords of the holder as the person entitled to property held,\n\nissued, or owing by the holder;\n\n2. “Attorney General” means the chief legal officer of this\n\nstate;\n\n3. “Banking organization” means any bank, trust company,\n\nsavings bank, safe deposit company, private banker, or any\n\norganization defined by other law as a bank or banking organization;\n\n4. “Business association” means a non-public corporation,\n\njoint-stock company, investment company, business trust,\n\npartnership, or association for business purposes of two or more\n\nindividuals whether or not for profit, including a banking\n\norganization, financial organization, insurance company, or utility;\n\n5. “Claimant” means a person who claims an interest in\n\nunclaimed property in the custody of the State Treasurer;\n\n6. “Claimant’s representative” means a person who has been\n\nhired by a claimant to file an unclaimed property claim on behalf of\n\na claimant pursuant to a written agreement, including a duly\n\nexecuted power of attorney;\n\n7. “Domicile” means the state of incorporation of a corporation\n\nand the state of the principal place of business of an\n\nunincorporated person;\n\n8. “Financial organization” means a savings and loan\n\nassociation, building and loan association, or credit union;\n\n9. “Holder” means a person, wherever organized or domiciled,\n\nwho is:\n\na. in possession of property belonging to another,\n\nb. a trustee, or\n\nc. indebted to another on an obligation;\n\n10. “Insurance company” means an association, corporation,\n\nfraternal or mutual benefit organization, whether or not for profit,\n\nwhich is engaged in providing insurance coverage, including\n\naccidental, burial, casualty, credit life, contract performance,\n\ndental, fidelity, fire, health, hospitalization, illness, life\n\n(including endowments and annuities), malpractice, marine, mortgage,\n\nsurety, and wage protection insurance;\n\n11. “Intangible property” includes:\n\na. money, checks, drafts, deposits, interest, dividends,\n\nand income,\n\nb. credit balances, customer overpayments, security\n\ndeposits, refunds, credit memos, unpaid wages, unused\n\nairline tickets, and unidentified remittances,\n\nc. stocks and other intangible ownership interests in\n\nbusiness associations,\n\nd. monies deposited to redeem stocks, bonds, coupons, and\n\nother securities, or to make distributions,\n\ne. amounts due and payable under the terms of insurance\n\npolicies, and\n\nf. amounts distributable from a trust or custodial fund\n\nestablished under a plan to provide health, welfare,\n\npension, vacation, severance, retirement, death, stock\n\npurchase, profit sharing, employee savings,\n\nsupplemental unemployment insurance, education or\n\nsimilar benefits;\n\n12. “Last-known address” means a description of the location of\n\nthe apparent owner sufficient for the purpose of the delivery of\n\nmail;\n\n13. “Memorandum” shall include a mark, symbol or statement\n\nindicating knowledge of or interest in funds on deposit;\n\n14. “Mineral proceeds” includes:\n\na. all obligations to pay mineral proceeds resulting from\n\nthe production and sale of minerals, including net\n\nrevenue interest, royalties, overriding royalties,\n\nproduction payments, and payments under joint\n\noperating agreements, and\n\nb. all obligations for the acquisition and retention of a\n\nmineral lease, including bonuses, delay rentals, shut-\n\nin royalties, and minimum royalties;\n\n15. “Museum” means an institution which is located in this\n\nstate and operated by a nonprofit corporation or a public agency\n\nprimarily for educational, scientific, historic preservation or\n\naesthetic purposes, and which owns, borrows, cares for, exhibits,\n\nstudies archives or catalogues property. “Museum” includes, but is\nluding bonuses, delay rentals, shut-\n\nin royalties, and minimum royalties;\n\n15. “Museum” means an institution which is located in this\n\nstate and operated by a nonprofit corporation or a public agency\n\nprimarily for educational, scientific, historic preservation or\n\naesthetic purposes, and which owns, borrows, cares for, exhibits,\n\nstudies archives or catalogues property. “Museum” includes, but is\n\nnot limited to, historical societies, historical sites or landmarks,\n\nparks, monuments and libraries;\n\n16. “Owner” means a depositor in the case of a deposit, a\n\nbeneficiary in case of a trust other than a deposit in trust, a\n\ncreditor, claimant, or payee in the case of other intangible\n\nproperty, or a person having a legal or equitable interest in\n\nproperty or the person’s legal representative. Where more than one\n\nperson is an owner, the property shall not be presumed abandoned\n\nunless it has remained unclaimed by all of its owners for the\n\nperiods hereinafter prescribed;\n\n17. “Person” means an individual, business association, state\n\nor other government, governmental subdivision or agency, public\n\ncorporation, public authority, estate, trust, two or more persons\n\nhaving a joint or common interest, or any other legal or commercial\n\nentity;\n\n18. “State” means any state, district, commonwealth, territory,\n\ninsular possession, or other area subject to the legislative\n\nauthority of the United States;\n\n19. “State Treasurer” or “Treasurer” means the duly elected and\n\nacting State Treasurer of Oklahoma;\n\n20. “Tax Commission” or “Commission” means the Oklahoma Tax\n\nCommission;\n\n21. “Utility” means a person who owns or operates for public\n\nuse any plant, equipment, property, franchise, or license for the\n\ntransmission of communications, or the production, storage,\n\ntransmission, sale, delivery, or furnishing of electricity, water,\n\nsteam, or gas; and\n\n22. “Written agreement” means a legally binding document\n\nbetween a claimant and the claimant’s representative outlining the\n\nterms and conditions of the agreement. It provides a clear record\n\nof the agreement, specifying each party's rights, responsibilities,\n\nand obligations, which authorizes the claimant’s representative to\n\nclaim and recover unclaimed property in the custody of the Treasurer\n\non behalf of the claimant. The agreement may include an\n\nauthorization that directs the Treasurer to remit payment of fees\n\ndue to the claimant’s representative subject to the provisions of\n\nthis title.","path":["OK Code","Title 60"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os60.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"fe159ac54eb3f06139b620b6aabc1d31a5703c12bf5279cb7d9650bbc09c2548","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-64","next":"us-ok/okla.-stat.-tit.-60-60-651.1"},"notice":"GroundRules: Original legal text. Not legal advice."}