Okla. Stat. tit. 74, § 74-2245
This is the official text of Okla. Stat. tit. 74, § 74-2245, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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Uncollectible accounts receivable
Official statutory text
A. The Department may place uncollectible accounts receivable
in a special account for accounting and budgetary purposes. An
"uncollectible account receivable" shall have been uncollectible or
due for at least one (1) year and possess at least one of the
following characteristics:
Oklahoma Statutes - Title 74. State Government Page 914
1. The debtor has been discharged from bankruptcy or is
insolvent;
2. The debtor cannot be found or is deceased; or
3. A collection agency has indicated its inability to collect
the debt.
B. If uncollectible accounts receivable are placed in a special
account, the following procedures shall be observed:
1. The proposed uncollectible accounts shall be forwarded to
the Department by the appropriate divisions. The Department shall
then submit the accounts to the Commission and to the State Auditor
and Inspector once each fiscal year for placement into the special
uncollectible account; and
2. The Commission and the State Auditor and Inspector shall
certify those accounts which meet the requirements of this section
as "uncollectible accounts receivable" and shall place those
accounts in the special account created by this section.
C. The special uncollectible accounts receivable account shall
not be used for budgetary purposes in determining the assets of the
Department or any of its divisions. The Department shall take all
reasonable steps to collect all accounts, including those placed in
the special account by operation of this section.
in a special account for accounting and budgetary purposes. An
"uncollectible account receivable" shall have been uncollectible or
due for at least one (1) year and possess at least one of the
following characteristics:
Oklahoma Statutes - Title 74. State Government Page 914
1. The debtor has been discharged from bankruptcy or is
insolvent;
2. The debtor cannot be found or is deceased; or
3. A collection agency has indicated its inability to collect
the debt.
B. If uncollectible accounts receivable are placed in a special
account, the following procedures shall be observed:
1. The proposed uncollectible accounts shall be forwarded to
the Department by the appropriate divisions. The Department shall
then submit the accounts to the Commission and to the State Auditor
and Inspector once each fiscal year for placement into the special
uncollectible account; and
2. The Commission and the State Auditor and Inspector shall
certify those accounts which meet the requirements of this section
as "uncollectible accounts receivable" and shall place those
accounts in the special account created by this section.
C. The special uncollectible accounts receivable account shall
not be used for budgetary purposes in determining the assets of the
Department or any of its divisions. The Department shall take all
reasonable steps to collect all accounts, including those placed in
the special account by operation of this section.
Status: in_force · Read it on the official government site
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