{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-653.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-653.1","heading":"Abandoned property - Demutualization or related","body":"reorganization of insurance company.\n\nProperty distributable in the course of a demutualization or\n\nrelated reorganization of an insurance company shall be deemed\n\nabandoned as follows:\n\n1. Any funds, two (2) years after the date of the\n\ndemutualization or reorganization, if there is no memorandum or\n\nother record on file with the holder or its agent evidencing the\n\nowner’s communication with the holder or its agent within two (2)\n\nyears following the date of the demutualization or reorganization,\n\nand:\n\na. a check is mailed to the last-known address of the\n\nowner by the holder or its agent and the funds remain\n\nunclaimed by the owner,\n\nb. a check is mailed to the last-known address of the\n\nowner by the holder or its agent and returned by the\n\npost office as undeliverable, or\n\nc. a check is not mailed to the owner because the last-\n\nknown address on the books and records of the holder\n\nis known to be invalid;\n\n2. Any stock or equity interest, two (2) years after the date\n\nof the demutualization or reorganization, if there is no memorandum\n\nor other record on file with the holder or its agent evidencing the\n\nowner’s communication with the holder or its agent within two (2)\n\nyears following the date of the demutualization or reorganization,\n\nand instruments or statements reflecting the distribution are:\n\na. mailed to the last-known address of the owner by the\n\nholder or its agent and returned by the post office as\n\nundeliverable, or\n\nb. not mailed to the owner because the last-known address\n\non the books and records of the holder is known to be\n\ninvalid;\n\n3. Property distributable in the course of demutualization or\n\nrelated reorganization not subject to paragraphs 1 or 2 of this\n\nsection within two (2) years of the distribution shall remain\n\nreportable under other sections of this chapter;\n\n4. A report of property presumed abandoned pursuant to this\n\nsection must be filed in accordance with Section 661 of Title 60 of\n\nthe Oklahoma Statutes. The initial report for property\n\ndistributable in the course of demutualization, rehabilitation, or\n\nrelated reorganization of an insurance company shall be filed on or\n\nbefore November 1, 2004, with respect to conditions in effect on\n\nDecember 31, 2003, and all property shall be determined to be\n\nreportable under this section as if this section were in effect on\n\nthe date of the demutualization, rehabilitation, or related\n\nreorganization of an insurance company.","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":"bfcebd0408de7c2b4dd6e8dd854780987d0a40ced62d1303255887989530d516","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-653","next":"us-ok/okla.-stat.-tit.-60-60-654"},"notice":"GroundRules: Original legal text. Not legal advice."}