Okla. Stat. tit. 52, § 52-554
This is the official text of Okla. Stat. tit. 52, § 52-554, part of Oklahoma’s Stat. tit. 52, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 52,." Browse the sections below, each linked to its official government source.
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Transmission of funds - Escrow report - Claims against
Official statutory text
Mineral Owner's Fund.
A. The Corporation Commission shall, by the close of the second
working day following the day on which the funds are received from
holders, transmit the funds to the State Treasurer, who shall hold
the funds in trust for the mineral owners in the Mineral Owner's
Fund.
B. The Corporation Commission shall, within ninety (90) days of
receipt, provide copies of escrow reports required by Section 551 et
seq. of this title to the State Treasurer. The State Treasurer
shall include these names in the regular annual process to locate
the owners of unclaimed property.
C. Claims against the Mineral Owner's Fund shall be submitted
to the State Treasurer, and upon sufficient proof of ownership, the
State Treasurer shall pay monies to the rightful owner or to the
Oklahoma Statutes - Title 52. Oil and Gas Page 231
rightful owner’s heirs, devisees or assigns from the Unclaimed
Property Fund, to be reimbursed quarterly from the Mineral Owner's
Fund, for such claim.
D. The Corporation Commission shall retain ten percent (10%) of
each amount of funds transferred to the State Treasurer to cover the
Corporation Commission’s cost of administration of the requirements
of Section 551 et seq. of this title.
A. The Corporation Commission shall, by the close of the second
working day following the day on which the funds are received from
holders, transmit the funds to the State Treasurer, who shall hold
the funds in trust for the mineral owners in the Mineral Owner's
Fund.
B. The Corporation Commission shall, within ninety (90) days of
receipt, provide copies of escrow reports required by Section 551 et
seq. of this title to the State Treasurer. The State Treasurer
shall include these names in the regular annual process to locate
the owners of unclaimed property.
C. Claims against the Mineral Owner's Fund shall be submitted
to the State Treasurer, and upon sufficient proof of ownership, the
State Treasurer shall pay monies to the rightful owner or to the
Oklahoma Statutes - Title 52. Oil and Gas Page 231
rightful owner’s heirs, devisees or assigns from the Unclaimed
Property Fund, to be reimbursed quarterly from the Mineral Owner's
Fund, for such claim.
D. The Corporation Commission shall retain ten percent (10%) of
each amount of funds transferred to the State Treasurer to cover the
Corporation Commission’s cost of administration of the requirements
of Section 551 et seq. of this title.
Status: in_force · Read it on the official government site
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