Okla. Stat. tit. 60, § 60-656

A. Intangible property and any income or increment derived

therefrom held in a fiduciary capacity for the benefit of another

person is presumed abandoned unless the owner, within seven (7)

years after it has become payable or distributable, has increased or

decreased the principal, accepted payment of principal or income,

communicated concerning the property, or otherwise indicated an

interest as evidenced by a memorandum on file with the fiduciary.

B. Holders of presumed abandoned intangible property shall

annually report and remit all proceeds accrued to date, including

the current balance held by the holder. When and if any part of the

proceeds has been held for the statutory abandonment period or

longer, the holder must report and remit all interest, additions,

and increments accrued to the account of the owner. Any additional

amounts accruing to an owner of the same intangible property

presumed abandoned previously reported will be reported and remitted

on an annual basis, including the additional amounts from the “as of

date” of the previous report year through the “as of date” of the

current report year.

In no event shall mineral interest proceeds be required to be

reported or remitted sooner than six (6) months after the date of

first sale from the applicable well.

C. Funds in an individual retirement account or a retirement

plan for self-employed individuals or similar account or plan

established under the Internal Revenue laws of the United States are

not payable or distributable within the meaning of subsection A of

this section unless, under the terms of the account or plan,

distribution of all or part of the funds would then be mandatory.

D. For the purpose of this section, a person who holds property

as an agent for a business association is deemed to hold the

property in a fiduciary capacity for that business association

alone, unless the agreement between the person and the business

association provides otherwise.

E. For the purposes of this act, a person who is deemed to hold

property in a fiduciary capacity for a business association alone is

Oklahoma Statutes - Title 60. Property Page 208

the holder of the property only insofar as the interest of the

business association in the property is concerned, and the business

association is the holder of the property insofar as the interest of

any other person in the property is concerned.