{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-652","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-652","heading":"Property held by banking or financial organizations","body":"A. Any demand, savings, or matured time deposit with a banking\n\nor financial organization, and any funds paid toward the purchase of\n\na share, funds paid toward a mutual investment certificate, or funds\n\npaid toward any other interest in a banking or financial\n\norganization is presumed abandoned, unless the owner, within five\n\n(5) years has:\n\n1. In the case of a deposit, increased or decreased its amount\n\nor presented the passbook or other similar evidence of the deposit\n\nfor the crediting of interest;\n\n2. Communicated in writing with the banking or financial\n\norganization concerning the property;\n\n3. Otherwise indicated an interest in the property as evidenced\n\nby a memorandum or other record on file prepared by an employee of\n\nthe banking or financial organization;\n\n4. Owned other property to which the provisions of paragraph 1,\n\n2 or 3 of this subsection apply and if the banking or financial\n\norganization communicates in writing with the owner with regard to\n\nthe property that would otherwise be presumed abandoned under this\n\nsubsection at the address to which communications regarding the\n\nother property are regularly sent; or\n\n5. Had another relationship with the banking or financial\n\norganization concerning which the owner has:\n\na. communicated in writing with the banking or financial\n\norganization, or\n\nb. otherwise indicated an interest as evidenced by a\n\nmemorandum or other record on file prepared by an\n\nemployee of the banking or financial organization and\n\nif the banking or financial organization communicates\n\nin writing with the owner with regard to the property\n\nthat would otherwise be abandoned under this\n\nsubsection at the address to which communications\n\nregarding the other relationship regularly are sent.\n\nIf a banking or financial organization has sent a statement or\n\nother business communication concerning such property to the owner\n\nby first-class mail and the statement or other business\n\ncommunication has not been returned for inability to make delivery\n\nto the addressee, the property shall not be presumed to be\n\nabandoned. The five-year abandonment period shall begin to run when\n\nany statement or other business communication to the owner has been\n\nreturned as undeliverable, or on the last date that the owner has\n\ncommunicated with the banking or financial organization in any of\n\nthe ways specified in paragraphs 1 through 5 of this subsection,\n\nwhichever is the later.\n\nB. For purposes of subsection A of this section, “property”\n\nincludes interest and dividends.\n\nC. A holder may not impose with respect to property described\n\nin subsection A of this section any charge due to dormancy or\n\ninactivity or cease payment of interest unless:\n\n1. Reasonable notice that the holder may impose the charge or\n\ncease payment of interest is given to the owner of the property,\n\neither:\n\na. at the time the account is opened,\n\nb. through a schedule of charges sent to the owner of the\n\nproperty, or\n\nc. through a statement in the rules, regulations, or\n\nbylaws of the holder that the holder may impose the\n\ncharge or cease payment of interest; and\n\n2. The holder regularly imposes such charges or ceases payment\n\nof interest. If the holder regularly reverses or otherwise cancels\n\nsuch charges or retroactively credits interest for a reason other\n\nthan an error or omission by the holder, then in proportion to the\n\nextent that it does so with respect to other deposits, the holder\n\nshall likewise reverse or otherwise cancel charges or retroactively\n\ncredit interest with respect to property that is reported to the\n\nState Treasurer as unclaimed under the Uniform Unclaimed Property\n\nAct.\n\nD. Automatically renewable time deposits shall be subject to\n\nthis section, except that automatically renewable time deposits\n\nshall be presumed abandoned fifteen (15) years following the\n\nexpiration of the initial time period of the time deposit unless,\n\nduring that period the owner has:\nto property that is reported to the\n\nState Treasurer as unclaimed under the Uniform Unclaimed Property\n\nAct.\n\nD. Automatically renewable time deposits shall be subject to\n\nthis section, except that automatically renewable time deposits\n\nshall be presumed abandoned fifteen (15) years following the\n\nexpiration of the initial time period of the time deposit unless,\n\nduring that period the owner has:\n\n1. Increased or decreased the amount of the deposit;\n\n2. Communicated in writing with the banking or financial\n\norganization concerning the property;\n\n3. Otherwise indicated an interest in the property as evidenced\n\nby a memorandum or other record on file prepared by an employee of\n\nthe banking or financial organization; or\n\n4. Had another relationship with the banking or financial\n\norganization concerning which the owner has:\n\na. communicated in writing with the banking or financial\n\norganization, or\n\nb. otherwise indicated an interest as evidenced by a\n\nmemorandum or other record on file prepared by an\n\nemployee of the banking or financial organization and\n\nif the banking or financial organization communicates\n\nin writing with the owner with regard to the property\n\nthat would otherwise be presumed abandoned under this\n\nsection at the address to which communications\n\nregarding the other relationship are regularly sent.\n\nUpon presumed abandonment of the automatically renewable time\n\ndeposit, the holder shall report the presumed abandonment to the\n\nState Treasurer and may, at the holder's option, either retain the\n\nproperty or pay or deliver it to the State Treasurer.","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":"339bcf322e262c38e0d230abde6adb3eebaf97d50a232fed94e92622aaba5aab","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-651.2","next":"us-ok/okla.-stat.-tit.-60-60-653"},"notice":"GroundRules: Original legal text. Not legal advice."}