{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-651.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-651.1","heading":"Sum payable on traveler's check, money order or other","body":"similar written instrument - Presumption of abandonment.\n\n(a) Subject to subsection (d) of this section and except as\n\nhereinafter provided, any sum payable on a travelers check that has\n\nbeen outstanding for more than fifteen (15) years after its issuance\n\nis presumed abandoned unless the owner, within fifteen (15) years,\n\nhas communicated in writing with the issuer concerning it or\n\notherwise indicated an interest as evidenced by a memorandum or\n\nother record on file prepared by an employee of the issuer. No\n\ntravelers check shall be presumed to be abandoned if the holder has\n\nsent a statement or other business communication concerning the\n\ntravelers check to the owner by first-class mail and the statement\n\nor other business communication has not been returned for inability\n\nto make delivery to the addressee. The fifteen-year abandonment\n\nperiod shall begin to run when any statement or other business\n\ncommunication to the owner has been returned as undeliverable, or on\n\nthe last date that the owner has communicated with the holder in any\n\nof the ways specified in this subsection, whichever is later. For\n\npurposes of this section, the issuer shall be the entity responsible\n\nfor the payment of the travelers check.\n\n(b) Subject to subsection (d) of this section, any sum payable\n\non a money order or similar written instrument, other than a third-\n\nparty bank check, that has been outstanding for more than seven (7)\n\nyears after its issuance is presumed abandoned unless the owner,\n\nwithin seven (7) years, has communicated in writing with the issuer\n\nconcerning it or otherwise indicated an interest as evidenced by a\n\nmemorandum or other record on file prepared by an employee of the\n\nissuer.\n\n(c) A holder may not deduct from the amount of a travelers\n\ncheck or money order any charge imposed by reason of the failure to\n\npresent the instrument for payment unless there is a valid and\n\nenforceable written contract between the issuer and the owner of the\n\ninstrument pursuant to which the issuer may impose a charge and the\n\nissuer regularly imposes such charges and does not regularly reverse\n\nor otherwise cancel them.\n\n(d) No sum payable on a travelers check, money order, or\n\nsimilar written instrument, other than a third-party check,\n\ndescribed in subsections (a) and (b) of this section may be\n\nsubjected to the custody of this state as unclaimed property unless:\n\n(1) the records of the issuer show that the travelers\n\ncheck, money order, or similar written instrument was\n\npurchased in this state;\n\n(2) the issuer has its principal place of business in this\n\nstate and the records of the issuer do not show the\n\nstate in which the travelers check, money order, or\n\nsimilar written instrument was purchased; or\n\n(3) the issuer has its principal place of business in this\n\nstate, the records of the issuer show the state in\n\nwhich the travelers check, money order, or similar\n\nwritten instrument was purchased and the laws of the\n\nstate of purchase either do not provide for the\n\nescheat or custodial taking of the property or its\n\nescheat or unclaimed property law is not applicable to\n\nthe property.\n\n(e) Notwithstanding any other provisions of this act,\n\nsubsection (d) of this section applies to sums payable on travelers\n\nchecks, money orders, and similar written instruments presumed\n\nabandoned on or after February 1, 1965, except to the extent that\n\nthose sums have been paid over to a state prior to January 1, 1974.","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":"33cfc9115b2f5f916fc55e35480910a7deac1ca3517e2e75f01a0d4c5101036c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-651","next":"us-ok/okla.-stat.-tit.-60-60-651.2"},"notice":"GroundRules: Original legal text. Not legal advice."}