Okla. Stat. tit. 11, § 11-22-136

municipality or municipal public trust - Abandonment - Notice -

Definitions.

A. Except as provided by other provisions of Title 11 of the

Oklahoma Statutes governing disposition of certain specific types of

intangible property, any intangible property held for the owner or

apparent owner by a municipality or a municipal public trust that

remains unclaimed by the owner or apparent owner for one (1) year or

more after becoming payable or distributable is presumed abandoned

and shall be disposed of as provided by subsection B of this

section.

B. Intangible property presumed abandoned pursuant to the

provisions of subsection A of this section shall be disposed of by

the municipality or municipal public trust as follows:

1. a. The municipality or municipal public trust shall mail

written notice to the owner or apparent owner at his

or her last-known address stating that the intangible

property shall be paid over to the municipality or

municipal public trust unless the owner or apparent

owner files a claim therefor with the clerk of the

municipality or with the secretary of the municipal

public trust, as applicable, within two (2) years of

the date of the notice.

Oklahoma Statutes - Title 11. Cities and Towns Page 190

b. If the address of the owner or apparent owner is

unknown, or the mailed notice required by subparagraph

a of this paragraph is returned as undeliverable, the

municipality or municipal public trust shall publish

such notice two (2) times in a newspaper of general

circulation within the county where the principal

offices of the municipality or municipal public trust

are located; and

2. If the intangible property is not claimed by the owner or

apparent owner within two (2) years of the latest date of the mailed

or published notice, as provided in paragraph 1 of this subsection,

then the claim of such owner or apparent owner shall be extinguished

and the property shall be disposed of as may be determined and

directed by the municipal governing body or by the trustees of the

public trust, as applicable.

C. As used in this section:

1. “Apparent owner” means the person whose name appears on the

records of the municipality or municipal public trust as the person

entitled to intangible property held, issued, or owning by the

municipality or municipal public trust;

2. “Intangible property” means money, warrants, checks, drafts,

deposits, interest, dividends, income, credit balances, customer

overpayments, security deposits, refunds, credit memos, unpaid

wages, unused airline tickets, unidentified remittances and other

similar personal property;

3. “Last-known address” means a description of the location of

the owner or apparent owner sufficient for the purpose of the

delivery of mail;

4. “Municipal public trust” means any public trust of which one

or more municipalities are the sole beneficiary or beneficiaries;

and

5. “Owner” means a depositor in the case of a deposit, a

beneficiary in case of a trust other than a deposit in trust, a

creditor, claimant, or payee in the case of other intangible

property, or a person having a legal or equitable interest in

property subject to this act, or his or her legal representative.

When used in this section, the term “owner” shall encompass both a

single owner or multiple owners.