Okla. Stat. tit. 60, § 60-667
This is the official text of Okla. Stat. tit. 60, § 60-667, part of Oklahoma’s Stat. tit. 60, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 60,." Browse the sections below, each linked to its official government source.
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Sale of abandoned property from safe deposit boxes -
Official statutory text
Securities.
A. Except as provided in subsections B and C of this section,
when the State Treasurer determines it to be economically feasible,
the Treasurer shall sell abandoned property from safe deposit boxes
to the highest bidder at public sale in whatever city in the state
affords in the judgment of the State Treasurer the most favorable
market for the property involved. The State Treasurer may decline
the highest bid and reoffer the property for sale if in the judgment
of the State Treasurer the bid is insufficient. If in the judgment
of the State Treasurer the probable cost of sale exceeds the value
of the property, it need not be offered for sale. Any sale held
under this section must be preceded by a single publication of
notice, at least three (3) weeks in advance of sale in a legal
newspaper of general circulation in the county where the property is
to be sold, the county of residence of the holder and the county of
the last-known address of the owner. If no address is listed or if
the address is outside this state, the notice shall be published in
an Oklahoma newspaper which the State Treasurer believes is most
likely to be seen by the owner of the property or by heirs of the
owner.
B. Securities listed on an established stock exchange must be
sold at prices prevailing at the time of sale on the exchange.
Other securities may be sold over the counter at prices prevailing
at the time of sale or by another method the State Treasurer
considers advisable. The liquidation of securities shall be exempt
from the procedures set forth in subsection A of this section.
C. Unless the State Treasurer considers it to be in the best
interest of the state to do otherwise, all securities, other than
those presumed abandoned under Section 655 of this title, delivered
to the State Treasurer must be held for at least one (1) year before
the State Treasurer may sell them.
D. The purchaser at any sale conducted by the State Treasurer
pursuant to the Uniform Unclaimed Property Act takes the property,
free of all claims of the owner or prior holder thereof and of all
Oklahoma Statutes - Title 60. Property Page 220
persons claiming through or under them. The State Treasurer shall
execute all documents necessary to complete the transfer of
ownership.
A. Except as provided in subsections B and C of this section,
when the State Treasurer determines it to be economically feasible,
the Treasurer shall sell abandoned property from safe deposit boxes
to the highest bidder at public sale in whatever city in the state
affords in the judgment of the State Treasurer the most favorable
market for the property involved. The State Treasurer may decline
the highest bid and reoffer the property for sale if in the judgment
of the State Treasurer the bid is insufficient. If in the judgment
of the State Treasurer the probable cost of sale exceeds the value
of the property, it need not be offered for sale. Any sale held
under this section must be preceded by a single publication of
notice, at least three (3) weeks in advance of sale in a legal
newspaper of general circulation in the county where the property is
to be sold, the county of residence of the holder and the county of
the last-known address of the owner. If no address is listed or if
the address is outside this state, the notice shall be published in
an Oklahoma newspaper which the State Treasurer believes is most
likely to be seen by the owner of the property or by heirs of the
owner.
B. Securities listed on an established stock exchange must be
sold at prices prevailing at the time of sale on the exchange.
Other securities may be sold over the counter at prices prevailing
at the time of sale or by another method the State Treasurer
considers advisable. The liquidation of securities shall be exempt
from the procedures set forth in subsection A of this section.
C. Unless the State Treasurer considers it to be in the best
interest of the state to do otherwise, all securities, other than
those presumed abandoned under Section 655 of this title, delivered
to the State Treasurer must be held for at least one (1) year before
the State Treasurer may sell them.
D. The purchaser at any sale conducted by the State Treasurer
pursuant to the Uniform Unclaimed Property Act takes the property,
free of all claims of the owner or prior holder thereof and of all
Oklahoma Statutes - Title 60. Property Page 220
persons claiming through or under them. The State Treasurer shall
execute all documents necessary to complete the transfer of
ownership.
Status: in_force · Read it on the official government site
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