Usa Oregon

USA Statutes : oregon
Title : TITLE 09 MORTGAGES AND LIENS
Chapter : Chapter 98 Lost, Unordered and Unclaimed Property; Unlawfully Parked Vehicles
(1) If any
person finds money or goods valued at $100 or more, and if the owner of
the money or goods is unknown, such person, within 10 days after the date
of the finding, shall give notice of the finding in writing to the county
clerk of the county in which the money or goods was found. Within 20 days
after the date of the finding, the finder of the money or goods shall
cause to be published in a newspaper of general circulation in the county
a notice of the finding once each week for two consecutive weeks. Each
such notice shall state the general description of the money or goods
found, the name and address of the finder and final date before which
such goods may be claimed.

(2) If no person appears and establishes ownership of the money or
goods prior to the expiration of three months after the date of the
notice to the county clerk under subsection (1) of this section, the
finder shall be the owner of the money or goods. [1973 c.642 §1; 1989
c.522 §1]If any person who finds money or goods valued
at $100 or more fails to comply with ORS 98.005, the person shall be
liable, upon conviction for violation of ORS 164.065, to the county for
the money or goods or the full value of the money or goods. The county
treasurer shall hold the money or goods or their value for owner thereof
and shall publish notice of the finding of the money or goods in the
manner provided in ORS 98.005. If the owner has not reclaimed such money
or goods within three months after the date of the first publication of
notice by the county treasurer, the owner shall forfeit the rights of the
owner to the value of such money or goods and the value of such money or
goods shall be placed in the general fund of the county to be used for
the payment of the general operating expenses of the county. [1973 c.642
§2; 1989 c.522 §2] If an owner of money or goods found by
another person appears and establishes a claim to such money or goods
within the time period prescribed by ORS 98.005 or 98.015, whichever
applies, the owner shall have restitution of such money or goods or their
value upon payment of all costs and charges incurred in the finding,
giving of notice, care and custody of such money or goods. [1973 c.642 §3]FINDER’S REPORTS (1) The administrator may compile
information or data in the possession of the Department of State Lands
into finder’s reports at the request of any person to assist in finding
the owners of abandoned or unclaimed property.

(2) The administrator shall adopt by rule a fee for copies of
finder’s reports. The fee charged shall be commensurate with preparation
costs including production, duplication and staff time involved.

(3) Any person requesting a copy of a finder’s report shall be
charged the fee.

(4) As used in subsections (1) to (3) of this section:

(a) “Administrator” has the same meaning as given by ORS 98.302.

(b) “Person” includes any natural person, corporation, partnership,
firm or association.

(c) “Finder’s report” means any report prepared by the
administrator for the benefit of any person to assist in finding the
owners of abandoned or unclaimed property. [1987 c.708 §§1,2; 2001 c.237
§2]DISPOSAL OF CONSIGNED OR BAILED PROPERTY THAT IS UNCLAIMED When
personal property is consigned to or deposited with any forwarding
merchant, wharf, warehouse, tavern keeper or the keeper of any depot for
the reception and storage of trucks, baggage, merchandise or other
personal property, the consignee or bailee shall immediately cause to be
entered in a book kept by the consignee or bailee a description of such
property, with the date of its reception.If personal property left with a consignee or bailee referred to
in ORS 98.110 was not left for the purpose of being forwarded or disposed
of according to directions received by the consignee or bailee at or
before the time of its reception, and if the name and residence of the
owner of the property is known to the person having the property in the
possession of the person, the person shall immediately notify the owner,
by letter directed to the owner and deposited in the post office, of the
reception of such property. If personal property
deposited with a consignee or bailee as mentioned in ORS 98.110 or 98.120
is not claimed and taken away within one year after the time it was
received, the person having possession thereof may at any time thereafter
proceed to sell the property in the manner provided in ORS 98.140 to
98.240. Before property shall be sold pursuant to
ORS 98.130, at least 60 days’ notice of sale shall be given the owner of
the property, if the name and residence of the owner are known, either
personally or by mail, or by leaving a notice at the residence or place
of doing business of the owner, or, if the name and residence of the
owner is not known, a notice shall be published containing a description
of the property for six weeks successively in a newspaper published in
the county where the property was deposited. If there is no newspaper
published in that county, then the notice shall be published in a
newspaper nearest thereto in the state. The last publication of the
notice shall be at least 18 days prior to the time of sale. If the
owner or person entitled to the property to be sold pursuant to ORS
98.130 shall not take it away and pay the charges thereon after 60 days’
notice is given, the person having possession thereof, the agent or
attorney of the person shall deliver to a justice of the peace of the
county where the property was received an affidavit setting forth a
description of the property remaining unclaimed, the time of its
reception, the publication of the notice, and whether the owner of the
property is known or unknown. Upon the delivery to the
justice of the peace of the affidavit as provided in ORS 98.150, the
justice shall cause the property to be examined in the presence of the
justice, and a true inventory thereof to be made. The justice shall annex
to such inventory an order under the hand of the justice that the
property therein described be sold at public auction by any constable of
the constable district where the property is located, or if there is no
constable, then by the county sheriff. [Amended by 1963 c.228 §1] The constable or sheriff receiving the inventory and
order provided for in ORS 98.160 shall give 10 days’ notice of the sale
by posting written notices thereof in three or more places in such
constable district, or in the county, and sell the property at public
auction to the highest bidder in the same manner as provided by law for
sales under execution from justice courts. [Amended by 1963 c.228 §2] Upon completing the sale
provided for in ORS 98.170, the constable or sheriff making the sale
shall indorse upon the order provided for in ORS 98.160 a return of the
proceedings. The constable or sheriff shall deliver the order to the
justice, together with the inventory and the proceeds of sale, after
deducting fees. [Amended by 1963 c.228 §3] From the proceeds of the
sale provided for in ORS 98.170, the justice shall pay all legal charges
that have been incurred in relation to the property, or a ratable
proportion of each charge if the proceeds of the sale are not sufficient
to pay all the charges; and the balance, if there is any, the justice
shall immediately pay over to the treasurer of the county in which the
property was sold, and deliver a statement therewith containing a
description of the property sold, the gross amount of the sale, and the
costs, charges and expenses paid to each person. The county treasurer shall
make an entry of the amount received by the county treasurer and the time
when received, and shall file in the office of the county treasurer the
statement delivered to the county treasurer by the justice pursuant to
ORS 98.190. If the owner of the
property sold, or the legal representative of the owner, furnishes
satisfactory evidence to the treasurer of ownership of the property
deposited in the county treasury pursuant to ORS 98.190, the owner shall
be entitled to receive from the treasurer the amount deposited with the
treasurer. [Amended by 1957 c.670 §30] Perishable property consigned
or left as mentioned in ORS 98.110, if not reclaimed within 30 days after
it was left, may be sold by giving 10 days’ notice thereof. The sale
shall be conducted and the proceeds of the sale shall be applied as
provided in ORS 98.170 to 98.210. Any property in a state of decay or
manifestly liable to immediately become decayed, may, after inspection,
be summarily sold by order of a justice of the peace, as provided in ORS
98.160. A
justice of the peace shall receive $9 for each day’s service rendered
pursuant to ORS 98.160 to 98.230; and a constable or sheriff shall
receive the same fees as are allowed by law for sales upon an execution,
and 50 cents a folio for making an inventory of property. [Amended by
1963 c.228 §4; 1965 c.619 §33]UNCLAIMED PROPERTY IN POSSESSION OF LAW ENFORCEMENT AGENCY(1) As used in this section:

(a) “Removing authority” means a sheriff’s office, a municipal
police department, a state police office, a law enforcement agency
created by intergovernmental agreement or a port as defined in ORS
777.005 or 778.005.

(b) “Unclaimed property” means personal property that was seized by
a removing authority as evidence, abandoned property, found property or
stolen property, and that has remained in the physical possession of that
removing authority for a period of more than 60 days following conclusion
of all criminal actions related to the seizure of the evidence, abandoned
property, found property or stolen property, or conclusion of the
investigation if no criminal action is filed.

(2) Notwithstanding ORS 98.302 to 98.436, and in addition to any
other method provided by law, a removing authority may dispose of
unclaimed property as follows:

(a) An inventory describing the unclaimed property shall be
prepared by the removing authority.

(b) The removing authority shall publish a notice of intent to
dispose of the unclaimed property described in the inventory prepared
pursuant to paragraph (a) of this subsection. The notice shall be posted
in three public places in the jurisdiction of the removing authority, and
shall also be published in a newspaper of general circulation in the
jurisdiction of the removing authority. The notice shall include a
description of the unclaimed property as provided in the inventory, the
address and telephone number of the removing authority and a statement in
substantially the following form:

___________________________________________________________________________
___NOTICE

The (removing authority) has in its physical possession the
unclaimed personal property described below. If you have any ownership
interest in any of that unclaimed property, you must file a claim with
the (removing authority) within 30 days from the date of publication of
this notice, or you will lose your interest in that property.

___________________________________________________________________________
___ (c) A copy of the notice described in paragraph (b) of this
subsection shall also be sent to any person that the removing authority
has reason to believe has an ownership or security interest in any of the
unclaimed property described in the notice. A notice sent pursuant to
this paragraph shall be sent by regular mail to the last known address of
the person.

(d) Prior to the expiration of the time period stated in a notice
issued pursuant to this section, a person may file a claim that presents
proof satisfactory to the removing authority issuing the notice that the
person is the lawful owner or security interest holder of any property
described in that notice. The removing authority shall then return the
property to that person.

(e) If a removing authority fails to return property to a person
that has timely filed a claim pursuant to paragraph (d) of this
subsection, the person may file, within 30 days of the date of the
failure to return the property, a petition seeking return of the property
to the person. The petition shall be filed in the circuit court for the
county in which the removing authority is located. If one or more
petitions are filed, the removing authority shall hold the property
pending receipt of an order of the court directing disposition of the
property or dismissing the petition or petitions with prejudice. If the
court grants the petition, the removing authority shall turn the
unclaimed property over to the petitioner in accordance with the order.

(f) Unless the removing authority or court upholds the claim or
petition under paragraph (d) or (e) of this subsection, title to all
unclaimed property described in a notice issued pursuant to this section
shall pass to the removing authority free of any interest or encumbrance
thereon in favor of any person who has:

(A) A security interest in the property and to whom the removing
authority mailed a copy of the notice described in paragraph (b) of this
subsection in accordance with paragraph (c) of this subsection; or

(B) Any ownership interest in the property.

(g) The removing authority may transfer good and sufficient title
to any subsequent purchaser or transferee, and the title shall be
recognized by all courts and governmental agencies. Any department,
agency or officer of the state or any political subdivision whose
official functions include the issuance of certificates or other evidence
of title shall be immune from civil or criminal liability when such
issuance is pursuant to a bill of sale issued by the removing authority.
[1997 c.480 §2; 2003 c.693 §13]UNIFORM DISPOSITION OF UNCLAIMED PROPERTY ACT

(1) “Administrator” means the Director of the Department of State
Lands.

(2) “Apparent owner” means the person whose name appears on the
records of the holder as the person entitled to property held, issued or
owing by the holder.

(3) “Business association” means a nonpublic corporation, joint
stock company, business trust, partnership, investment company or an
association for business purposes of two or more individuals, whether or
not for profit, including a financial institution, insurance company or
utility.

(4) “Domicile” means the state of incorporation of a corporation
and the state of the principal place of business of an unincorporated
person.

(5) “Financial institution” means a financial institution or a
trust company, as those terms are defined in ORS 706.008, a safe deposit
company, a private banker, a savings and loan association, a building and
loan association or an investment company.

(6) “Holder” means a person, wherever organized or domiciled, who
is in possession of property belonging to another, a trustee or indebted
to another on an obligation.

(7) “Insurance company” means an association, corporation,
fraternal or mutual benefit organization, whether or not for profit,
which is engaged in providing insurance coverage, including accident,
burial, casualty, workers’ compensation, credit life, contract
performance, dental, fidelity, fire, health, hospitalization, illness,
life (including endowments and annuities), malpractice, marine, mortgage,
surety and wage protection insurance.

(8) “Intangible property” includes:

(a) Credit balances, customer overpayments, security deposits,
refunds, credit memos, unpaid wages, unused airline tickets and
unidentified remittances;

(b) Stocks and other intangible ownership interests in business
associations;

(c) Moneys deposited to redeem stocks, bonds, coupons, and other
securities, or to make distributions;

(d) Amounts due and payable under the terms of insurance policies;

(e) Amounts distributed from a trust or custodial fund established
under a plan to provide health, welfare, pension, vacation, severance,
retirement, death, stock purchase, profit sharing, employee savings,
supplemental unemployment insurance or similar benefits; and

(f) Moneys, checks, drafts, deposits, interest, dividends and
income.

(9) “Last-known address” means a description of the location of the
apparent owner sufficient for the purpose of delivery of mail.

(10) “Lawful deduction” means a deduction related to the purpose of
an account or deposit, for example, to satisfy unpaid utility bills.

(11) “Owner” means a depositor in case of a deposit, a beneficiary
in case of a trust other than a deposit in trust, a creditor, claimant,
or payee in case of other intangible property, or a person, or the
person’s legal representative, having a legal or equitable interest in
property.

(12) “Person” means an individual, business association, state or
other government or political subdivision or agency, public corporation,
public authority, estate, trust, two or more persons having a joint or
common interest, or any other legal or commercial entity.

(13) “Service charge” means fees or charges that are limited to a
specific situation and that meet basic contractual and notice
requirements.

(14) “State” means any state, district, commonwealth, territory,
insular possession or any other area subject to the legislative authority
of the United States.

(15) “Utility” means a person who owns or operates for public use,
any plant, equipment, property, franchise or license for the transmission
of communications or the production, storage, transmission, sale,
delivery or furnishing of electricity, water, steam or gas. [1957 c.670
§3; 1983 c.716 §1; 1993 c.694 §40; 1997 c.416 §1; 1997 c.631 §396; 2003
c.272 §1] Unless
otherwise provided in ORS 98.302 to 98.436 and 98.992 or by other statute
of this state, intangible property is subject to the custody of this
state as unclaimed property if the conditions raising a presumption of
abandonment under ORS 98.342 are satisfied, and one or more of the
following is true:

(1) The last-known address, as shown on the records of the holder,
of the apparent owner is in this state.

(2) The records of the holder do not reflect the identity of the
person entitled to the property and it is established that the last-known
address of the person entitled to the property is in this state.

(3) The records of the holder do not reflect the address of the
apparent owner, and one or more of the following is established:

(a) The last-known address of the person entitled to the property
is in this state.

(b) The holder is a domiciliary or a government or political
subdivision or agency of this state and has not previously paid or
delivered the property to the state of the last-known address of the
apparent owner or other person entitled to the property.

(c) The last-known address, as shown on the records of the holder,
or the apparent owner is in a state that does not provide by law for the
escheat or custodial taking of the property or its escheat or unclaimed
property law is not applicable to the property and the holder is a
domiciliary or a government or political subdivision or agency of this
state.

(4) The last-known address, as shown on the records of the holder,
of the apparent owner is in a foreign nation and the holder is a
domiciliary or a government or political subdivision or agency of this
state.

(5) The transaction out of which the property arose occurred in
this state, and:

(a) There is no known address of the apparent owner or other person
entitled to the property;

(b) The last-known address of the apparent owner or other person
entitled to the property is in a state that does not provide by law for
the escheats or custodial taking of the property or its escheats or
unclaimed property law is not applicable to the property; or

(c) The holder is a domiciliary of a state that does not provide by
law for the escheat or custodial taking of the property or its escheat or
unclaimed property law is not applicable to the property. [1983 c.716
§28; 1993 c.694 §1] (1) Any
demand, savings or matured time deposit with a financial institution,
including a deposit that is automatically renewable, and any funds paid
toward the purchase of a share, mutual investment certificate or any
other interest in a financial institution is presumed abandoned unless
the owner, within five years has done one or more of the following:

(a) In the case of a deposit, increased or decreased its amount or
presented the passbook or other similar evidence of the deposit for the
crediting of interest.

(b) Communicated in writing with the financial institution
concerning the property.

(c) Otherwise indicated an interest in the property as evidenced by
a memorandum or other record on file prepared by an employee of the
financial institution.

(d) Owned other property to which paragraph (a), (b) or (c) of this
subsection applies, and the financial institution has communicated in
writing with the owner with regard to the property that would otherwise
be presumed abandoned under this subsection at the address to which
communications regarding the other property regularly are sent.

(e) Had another relationship with the financial institution
concerning which the owner has:

(A) Communicated in writing with the financial institution; or

(B) Otherwise indicated an interest as evidenced by a memorandum or
other record on file prepared by an employee of the financial
institution, and the financial institution has communicated in writing
with the owner with regard to the property that would otherwise be
abandoned under this subsection at the address to which communications
regarding the other relationship regularly are sent.

(2) For purposes of subsection (1) of this section “property”
includes interest and dividends.

(3) With respect to property described in subsection (1) of this
section, a holder may not impose any charge or cease payment of interest
due to dormancy or inactivity unless:

(a) There is a written contractual agreement between the holder and
the owner of the account clearly and prominently setting forth the
conditions under which a service charge may be imposed or the payment of
interest terminated;

(b) The establishment of a service charge, the change of an
existing service charge or the change of a policy pertaining to the
payment of interest is uniformly applied to all dormant or inactive
accounts;

(c) The holder shall give written notice to the owner at the
owner’s last-known address whenever an account becomes dormant or
inactive; and

(d) Three months’ written notice is given by certified mail to the
last-known address of the owner of a dormant or inactive account before
the holder may apply a service charge to that account or stop paying
interest on that account.

(4) A signature card is not a written contractual agreement for the
purposes of subsection (3)(a) of this section, however, the signature
card and the written contractual agreement may be contained in one
instrument.

(5) Property described in subsection (1) of this section that is
automatically renewable is matured for purposes of subsection (1) of this
section upon the expiration of its initial time period. However, if the
owner consents to a renewal at or about the time of renewal by
communicating in writing with the financial institution or otherwise
indicating consent as evidenced by a memorandum or other record on file
prepared by an employee of the institution, the property is matured upon
the expiration of the last time period for which consent was given. If
the delivery of funds or property required by ORS 98.352 would result in
a penalty or forfeiture in the payment of interest from the delivery of
the funds or property, the delivery may be delayed until the time when no
penalty or forfeiture would result.

(6) Except for those instruments subject to ORS 98.309, any sum
payable on a check, draft or similar instrument, on which a financial
institution is directly liable, including a cashier’s check and a
certified check, which has been outstanding for more than five years
after it was payable or after its issuance if payable on demand, is
presumed abandoned, unless the owner, within five years, has communicated
in writing with the financial institution concerning it or otherwise
indicated an interest as evidenced by a memorandum or other record on
file prepared by an employee thereof.

(7) A holder may not deduct from the amount of any instrument
subject to subsections (6) and (7) of this section any charge imposed by
reason of the failure to present the instrument for payment unless there
is a valid and enforceable written contract between the holder and the
owner of the instrument pursuant to which the holder may impose a charge,
and the holder regularly imposes such charges and does not regularly
reverse or otherwise cancel them. [1983 c.716 §§30, 31; 1993 c.694 §2;
1997 c.631 §397; 2003 c.272 §2] (1)
Subject to subsection (4) of this section, any sum payable on a
traveler’s check that has been outstanding for more than 15 years after
its issuance is presumed abandoned unless the owner, within 15 years, has
communicated in writing with the issuer concerning it or otherwise
indicated an interest as evidenced by a memorandum or other record on
file prepared by an employee of the issuer.

(2) Subject to subsection (4) of this section, any sum payable on a
money order or similar written instrument, other than a third party bank
check, that has been outstanding for more than seven years after its
issuance is presumed abandoned unless the owner, within that seven years,
has communicated in writing with the issuer concerning it or otherwise
indicated an interest as evidenced by a memorandum or other record on
file prepared by an employee of the issuer.

(3) A holder may not deduct from the amount of a traveler’s check
or money order any charge imposed by reason of the failure to present the
instrument for payment unless there is a valid and enforceable written
contract between the issuer and the owner of the instrument pursuant to
which the issuer may impose a charge and the issuer regularly imposes
such charges and does not regularly reverse or otherwise cancel them.

(4) Other than a third party bank check, no sum payable on a
traveler’s check, money order or similar written instrument described in
subsections (1) and (2) of this section may be subjected to the custody
of this state as unclaimed property unless:

(a) The records of the issuer show that the traveler’s check, money
order or similar written instrument was purchased in this state;

(b) The issuer has its principal place of business in this state
and the records of the issuer do not show the state in which the
traveler’s check, money order or similar written instrument was
purchased; or

(c) The issuer has its principal place of business in this state,
the records of the issuer show the state in which the traveler’s check,
money order or similar written instrument was purchased and the laws of
the state of purchase do not provide for the escheat or custodial taking
of the property or its escheat or unclaimed property law is not
applicable to the property.

(5) Notwithstanding any other provision of ORS 98.302 to 98.436 and
98.992, subsection (4) of this section applies to sums payable on
traveler’s checks, money orders and similar written instruments presumed
abandoned on or after February 1, 1965, except to the extent that those
sums have been paid over to a state prior to January 1, 1974. [1983 c.716
§29] Notwithstanding the
provisions in ORS 98.308, a holder may not deduct a service charge or fee
or otherwise reduce an owner’s unclaimed account unless:

(1) There is a valid written contract between the holder and the
owner that allows the holder to impose a charge;

(2) The service charge or fee is imposed uniformly on all accounts;
and

(3) Three months’ written notice is given by certified mail to the
last-known address of all owners before the charge or fee is levied.
[1993 c.694 §45]Note: 98.311 was added to and made a part of 98.302 to 98.436 by
legislative action but was not added to any smaller series therein. See
Preface to Oregon Revised Statutes for further explanation. (1) Funds held
or owing under any life or endowment insurance policy or annuity contract
that has matured or terminated are presumed abandoned if unclaimed for
more than five years after the funds become due and payable as
established from the records of the insurance company holding or owing
the funds, but property described in subsection (3)(b)(A) of this section
is presumed abandoned if unclaimed for more than two years.

(2) If a person other than the insured or annuitant is entitled to
the funds and an address of the person is not known to the company or it
is not definite and certain from the records of the company who is
entitled to the funds, it is presumed that the address of the person
entitled to the funds is the same as the last-known address of the
insured or annuitant according to the records of the company.

(3) For purposes of ORS 98.302 to 98.436 and 98.992, a life or
endowment insurance policy or annuity contract not matured by actual
proof of the death of the insured or annuitant according to the records
of the company is matured and the proceeds due and payable if:

(a) The company knows that the insured or annuitant has died; or

(b) All of the following are true:

(A) The insured has attained, or would have attained if living, the
limiting age under the mortality table on which the reserve is based.

(B) The policy was in force at the time the insured attained, or
would have attained, the limiting age specified in subparagraph (A) of
this paragraph.

(C) Neither the insured nor any other person appearing to have an
interest in the policy within the preceding two years, according to the
records of the company, has assigned, readjusted or paid premiums on the
policy, subjected the policy to a loan, corresponded in writing with the
company concerning the policy, or otherwise indicated an interest as
evidenced by a memorandum or other record on file prepared by an employee
of the company.

(4) For purposes of ORS 98.302 to 98.436 and 98.992, the
application of an automatic premium loan provision or other nonforfeiture
provision contained in an insurance policy does not prevent a policy from
being matured or terminated under subsection (1) of this section if the
insured has died or the insured or the beneficiary of the policy
otherwise has become entitled to the proceeds of the policy before the
depletion of the cash surrender value of a policy by the application of
those provisions.

(5) If the laws of this state or the terms of the life insurance
policy require the company to give notice to the insured or owner that an
automatic premium loan provision or other nonforfeiture provision has
been exercised and the notice, given to an insured or owner whose
last-known address according to the records of the company is in this
state, is undeliverable, the company shall make a reasonable search to
ascertain the policyholder’s correct address to which the notice must be
mailed.

(6) Notwithstanding any other provision of law, if the company
learns of the death of the insured or annuitant and the beneficiary has
not communicated with the insurer within four months after the death, the
company shall take reasonable steps to pay the proceeds to the
beneficiary.

(7) Commencing two years after August 3, 1983, every change of
beneficiary form issued by an insurance company under any life or
endowment insurance policy or annuity contract to an insured or owner who
is a resident of this state must request the following information:

(a) The name of each beneficiary, or if a class of beneficiaries is
named, the name of each current beneficiary in the class;

(b) The address of each beneficiary; and

(c) The relationship of each beneficiary to the insured. [1983
c.716 §32] The following funds
held or owing by any utility are presumed abandoned if unclaimed by the
apparent owner for more than one year after the date of termination of
services or when the funds otherwise become payable or distributable:

(1) A deposit made by a subscriber with a utility to secure
payment, or a sum paid in advance for utility services, less any lawful
deductions.

(2) A sum received for utility services which a utility has been
ordered to refund, together with any interest thereon and less any lawful
deductions. [1957 c.670 §6; 1983 c.716 §2](1) Stock, certificates of ownership or other intangible
equity ownership interests in a business association are presumed
abandoned when all of the following occur:

(a) The interest is evidenced by records of the business
association.

(b) A dividend, distribution or other sum payable as a result of
the interest has remained unclaimed for five years.

(c) The owner has not otherwise communicated with the business
association for five years from the date the sum was payable.

(d) The business association has sent written notice of the payment
and underlying interest to the owner at the last-known address of the
owner as shown in the records of the business association.

(2) With respect to any interest presumed abandoned under
subsection (1) of this section, the business association is the holder.

(3) At the time an interest is presumed abandoned under subsection
(1) of this section, any payment then held for or owing to the owner as a
result of the interest is also presumed abandoned.

(4) Subsection (1) of this section shall not apply to any stock,
certificate of ownership or other intangible equity ownership interests
in a business association that provides for the automatic reinvestment of
dividends, distributions or other sums payable as a result of the
interests, unless:

(a) The records of the business association show that the person
also owns any stock, certificate of ownership or other intangible equity
ownership interest in the business association that is not enrolled in
the reinvestment plan; and

(b) The interest referred to in paragraph (a) of this subsection
has been presumed abandoned under subsection (1) of this section.

(5) Any dividend, profit distribution, interest, payment on
principal or other sum held or owing by a business association is
presumed abandoned if, within five years after the date prescribed for
payment, all of the following have occurred:

(a) The owner has not claimed the payment or corresponded in
writing with the business association concerning the payment.

(b) The business association has sent written notice of the payment
to the owner at the last-known address of the owner as shown in the
records of the business association. [1957 c.670 §7; 1983 c.716 §3; 1985
c.408 §1]All intangible personal property
distributable in the course of a dissolution of a business association or
financial institution that is unclaimed by the owner for more than one
year after the date for final distribution is presumed abandoned. [1957
c.670 §8; 1983 c.716 §4; 1993 c.694 §41; 2003 c.272 §3] Except property subject
to ORS 711.582 and 711.590, all tangible and intangible property held in
a safe deposit box or any other safekeeping repository in this state in
the ordinary course of the holder’s business, which remains unclaimed by
the owner for more than two years after the lease or rental period on the
box or other repository has expired, is presumed abandoned. [1983 c.716
§35; 1993 c.694 §3] A
holder, with the written consent of the Department of State Lands, and in
compliance with rules prescribed by the department, may report and
deliver property before the property is presumed abandoned. [1993 c.694
§46; 2001 c.302 §3]Note: 98.329 was added to and made a part of 98.302 to 98.436 by
legislative action but was not added to any smaller series therein. See
Preface to Oregon Revised Statutes for further explanation. (1) All intangible personal
property and any income or increment thereon, held in a fiduciary
capacity is presumed abandoned unless the owner has, within two years
after it becomes payable or distributable, increased or decreased the
principal, accepted payment of principal or income, corresponded in
writing concerning the property, or otherwise indicated an interest as
evidenced by a memorandum on file with the fiduciary.

(2) Funds in an individual retirement account or a retirement plan
or a similar account or plan established under the Internal Revenue laws
of the United States are not payable or distributable within the meaning
of subsection (1) of this section unless, under the terms of the account
or plan, distribution of all or part of the funds would then be
mandatory. [1957 c.670 §9; 1983 c.716 §5; 2003 c.580 §1] Unpaid wages, including
wages represented by unpresented payroll checks, owing in the ordinary
course of the holder’s business which remain unclaimed by the owner for
more than three years after becoming payable are presumed abandoned.
[1983 c.716 §34; 2001 c.302 §4] (1)
Intangible property, including uncashed warrants and wages represented by
unpresented payroll checks, held for the owner by a court, state or other
government, governmental subdivision or agency, public corporation, or
public authority, that has remained unclaimed by the owner for more than
two years is presumed abandoned.

(2) Tangible property held for the owner by a court, state or other
government, governmental subdivision or agency, law enforcement agency,
public corporation or public authority that has remained unclaimed by the
owner for more than two years is presumed abandoned. [1957 c.670 §10;
1983 c.716 §6; 1987 c.708 §3; 1993 c.694 §4; 2001 c.302 §5] (1) A credit memo issued in
the ordinary course of an issuer’s business which remains unclaimed by
the owner for more than three years after becoming payable or
distributable is presumed abandoned.

(2) For a credit memo presumed abandoned under subsection (1) of
this section, the amount presumed abandoned is the amount credited to the
recipient of the memo. [1983 c.716 §33; 1997 c.416 §2; 2001 c.302 §6] (1)
All intangible personal property, not otherwise covered by ORS 98.302 to
98.436 and 98.992, including any income or increment thereon and
deducting any lawful charges, that is held or owing in the ordinary
course of the holder’s business and has remained unclaimed by the owner
for more than three years after it became payable or distributable is
presumed abandoned.

(2) Property is payable or distributable for the purpose of ORS
98.302 to 98.436 and 98.992 notwithstanding the owner’s failure to make
demand or to present any instrument or document required to receive
payment. [1957 c.670 §11; 1983 c.716 §7; 2001 c.302 §7]Specific property described in ORS
98.308 to 98.314, 98.322 to 98.334, 98.338 or 98.342 which is held for or
owed or distributable to an owner whose last-known address is in another
state by a holder who is subject to the jurisdiction of that state is not
presumed abandoned in this state and subject to ORS 98.302 to 98.436 and
98.992 if:

(1) It may be claimed as abandoned or escheated under the laws of
the other state; and

(2) The laws of the other state make reciprocal provision that
similar specific property is not presumed abandoned or escheatable by the
other state when held for or owed or distributable to an owner whose
last-known address is within this state by a holder who is subject to the
jurisdiction of this state. [1957 c.670 §12; 1983 c.716 §8](1) At any time after property has
been paid or delivered to the Department of State Lands under ORS 98.352,
another state may recover the property if one or more of the following is
true:

(a) The property was subjected to custody by this state because the
records of the holder did not reflect the last-known address of the
apparent owner when the property was presumed abandoned under ORS 98.302
to 98.436 and 98.992; and the other state establishes that the last-known
address of the apparent owner or other person entitled to the property
was in that state and under the laws of that state the property escheated
to or was subject to a claim of abandonment by that state.

(b) The last-known address of the apparent owner or other person
entitled to the property, as reflected by the records of the holder, is
in the other state and under the laws of that state the property has
escheated to or become subject to a claim of abandonment by that state.

(c) The records of the holder were erroneous in that they did not
accurately reflect the owner of the property and the last-known address
of the owner is in the other state and under the laws of that state the
property escheated to or was subject to a claim of abandonment by that
state.

(d) The property was subjected to custody by this state and under
the laws of the state of domicile of the holder the property has
escheated to or become subject to a claim of abandonment by that state.

(e) The property is the sum payable on a traveler’s check, money
order or other similar instrument that was subjected to custody by this
state under ORS 98.309, and the instrument was purchased in the other
state and under the laws of that state the property escheated to or
became subject to a claim of abandonment by that state.

(2) The claim of another state to recover escheated or unclaimed
property must be presented in a form prescribed by the Department of
State Lands. The department shall decide the claim within 90 days after
it is presented.

(3) The department shall require a state, before recovering
property under this section, to agree to indemnify this state and its
officers and employees against any liability on a claim for the property.
[1983 c.716 §36; 1993 c.694 §5] (1) Every person holding funds
or other property, tangible or intangible, presumed abandoned under ORS
98.302 to 98.436 and 98.992 shall report and pay or deliver to the
Department of State Lands all property presumed abandoned as provided in
this section, except that:

(a) Funds transferred to the General Fund under ORS 293.455 (1)(a)
shall only be reported to the department.

(b) Funds in the possession of the Child Support Program described
in ORS 180.345 shall only be reported to the department.

(2) The report shall be verified as to the accuracy of the
information contained and shall include:

(a) Except with respect to traveler’s checks and money orders, the
name, if known, and address, if known, of each person appearing from the
records of the holder to be the owner of any property of value of $50 or
more presumed abandoned under ORS 98.302 to 98.436 and 98.992;

(b) In case of unclaimed funds of life insurance corporations, the
full name of the insured or annuitant and last-known address according to
the life insurance corporation’s records;

(c) The nature and identifying number, if any, or description of
the property and the amount appearing from the records to be due, except
that items of value under $50 each may be reported in aggregate;

(d) The date when the property became payable, demandable, or
returnable, and the date of the last transaction with the owner with
respect to the property; and

(e) Other information that the department prescribes by rule as
necessary for the administration of ORS 98.302 to 98.436 and 98.992.

(3) If the person holding property presumed abandoned is a
successor to other persons who previously held the property for the
owner, or if the holder has had a name change while holding the property,
the holder shall file with the report all prior known names and addresses
and effective dates of changes if known of each holder of the property.

(4) The report shall be filed after October 1, but no later than
November 1 of each year for accounts dormant as of June 30. The
department may postpone the reporting date upon written request by any
person required to file a report. All records are exempt from public
review for 12 months from the time the property is reportable and for 24
months after the property has been remitted to the department. All lists
of records or property held by a government or public authority under ORS
98.336 shall be exempt from public review until 24 months after the
property is remitted to the department.

(5) If the holder of property presumed abandoned under ORS 98.302
to 98.436 and 98.992 knows the whereabouts of the owner and if the
owner’s claim has not been barred by the statute of limitations, the
holder shall, before filing the annual report, communicate with the owner
and take necessary steps to prevent abandonment from being presumed. The
holder shall exercise due diligence to ascertain the whereabouts of the
owner.

(6) Verification, if made by a partnership, shall be executed by a
partner; if made by an unincorporated association or private corporation,
by an officer; and if made by a public corporation, by its chief fiscal
officer. [1957 c.670 §13; 1967 c.357 §2; 1981 c.475 §4; 1983 c.716 §9;
1993 c.694 §6; 1997 c.86 §1; 1999 c.798 §2; 2003 c.73 §48](1) The Department of State Lands shall, on a regular basis,
provide educational or informational materials to persons required to
file a report under ORS 98.352. The educational or informational
materials shall contain, but shall not be limited to, information
describing:

(a) The types of property, tangible and intangible, that are
subject to reporting;

(b) Persons who typically hold, knowingly or unknowingly, unclaimed
property;

(c) Record keeping requirements for persons holding unclaimed
property; and

(d) Any penalties for failing to comply with the provisions of ORS
98.302 to 98.436.

(2) Upon request by the Department of State Lands, the Department
of Revenue and the Office of the Secretary of State shall:

(a) Assist the Department of State Lands in determining which
persons are required to file a report under ORS 98.352; and

(b) Allow the Department of State Lands to include information
about unclaimed property reporting requirements in the regular mailings
of the Department of Revenue. [2001 c.302 §2; 2003 c.7 §2]Note: 98.353 was added to and made a part of 98.302 to 98.436 by
legislative action but was not added to any smaller series therein. See
Preface to Oregon Revised Statutes for further explanation.(1) Every holder required to file a report under ORS 98.352
as to any property for which the holder has obtained an address of the
owner, shall maintain a record of the name and last-known address of the
owner and such signature cards and other evidence which would assist in
the identification of the owner for three years after the property has
been remitted to the Department of State Lands.

(2) Any business association that sells in this state traveler’s
checks, money orders or other similar written instruments, other than
third party bank checks on which the business association is directly
liable, or that provides such instruments to others for sale in this
state, shall maintain a record of those instruments while they remain
outstanding, indicating the state and date of issue, for five years after
the date the property has been remitted to the department. [1983 c.716
§38; 1993 c.694 §7; 1995 c.219 §1; 2001 c.302 §8] (1)
The Department of State Lands shall publish notice of owners’ unclaimed
accounts reported under ORS 98.352. The notice shall be published at
least twice in a newspaper or other generally circulated periodical
published in this state. The department may publish such notices at
intervals to locate owners of accounts received under ORS 98.352 (4) in
an expedient manner, but shall complete publication of all such accounts
within one year of remittance.

(2) The department is not required to publish in such notice any
item of less than $100 unless the department deems such publication to be
in the public interest.

(3) This section is not applicable to sums payable on traveler’s
checks or money orders presumed abandoned under ORS 98.309.

(4) The department shall undertake reasonable efforts to locate
owners of unclaimed property reported to the department under ORS 98.352.
The costs of such efforts may be deducted from the proceeds that are paid
to the owners when and if an owner is located. The department shall
specify, by rule, a maximum percentage of costs that may be deducted from
a verified claim for unclaimed property.

(5) The Department of State Lands may not disclose to the general
public any confidential information provided by the Department of Revenue
from taxpayer returns. [1957 c.670 §14; 1967 c.357 §3; 1983 c.716 §10;
1989 c.183 §1; 1993 c.694 §8; 1997 c.134 §1; 2003 c.253 §5](1) The holder of an intangible equity ownership
interest presumed abandoned under ORS 98.322 shall deliver a certificate
of ownership or other evidence of ownership to the Department of State
Lands as follows:

(a) The original certificate shall be delivered to the department
when it is held by the business association, transfer agent, registrar or
other person acting on behalf of the business association.

(b) A duplicate certificate shall be issued to the department when
the business association, transfer agent, registrar or other person
acting on behalf of the holder does not hold the original.

(2) After issuance of a duplicate certificate under subsection (1)
of this section, the rights of a protected purchaser of the original
certificate shall be governed by ORS 78.4050. In such event, recovery by
the protected purchaser shall be against the department to the extent
allowed under the Oregon Constitution. [1957 c.670 §15; 1967 c.357 §4;
1983 c.716 §11; 1985 c.403 §2; 1993 c.694 §9; 1995 c.328 §70] (1) Upon the
payment or delivery of unclaimed property to the Department of State
Lands, the state shall assume custody and shall be responsible for the
safekeeping thereof. Any person who pays or delivers unclaimed property
to the department under ORS 98.352 is relieved of all liability to the
extent of the value of the property so paid or delivered for any claim
which then exists or which thereafter may arise or be made in respect to
the property.

(2) A holder who has paid money to the department under ORS 98.352
may make payment to any person appearing to the holder to be entitled to
payment. The department shall reimburse the holder within 60 days of
receiving proof that payment was made to a person who appeared to the
holder to be entitled to payment. The department shall reimburse the
holder for the payment without imposing any fee or other charge. [1957
c.670 §16; 1983 c.716 §12; 1993 c.694 §10] The owner is not
entitled to receive income or other increments which have accrued on the
property after the property is paid or delivered to the Department of
State Lands under ORS 98.352. [1957 c.670 §17; 1983 c.716 §13; 1993 c.694
§11] The expiration of any
period of time specified by statute or court order, during which an
action, suit or proceeding may be commenced or enforced to obtain payment
of a claim for money or recovery of property, shall not prevent the money
or property from being presumed abandoned, nor affect any duty to file a
report required by ORS 98.352 or to pay or deliver unclaimed property to
the Department of State Lands, provided that this section shall not
affect any property interests which became vested prior to August 20,
1957. [1957 c.670 §18; 1983 c.716 §14; 1993 c.694 §12]
(1)(a) All unclaimed property other than money and securities delivered
to the Department of State Lands under ORS 98.362 shall be sold by the
department to the highest bidder at public sale by the method and at the
location that the department determines are the most favorable for
receiving the highest price for the property involved. The department may
decline the highest bid and reoffer the property for sale if the
department considers the price bid insufficient. The department need not
offer any property for sale if, in the department’s opinion, the probable
cost of sale exceeds the value of the property.

(b) In choosing the most favorable method for the sale of property
under this subsection, the department may consider:

(A) A public oral auction;

(B) An electronic commerce forum; and

(C) Any other method for sale that ensures the highest returns and
provides for open, public participation.

(c) In choosing the most favorable location for the sale of
property under this subsection, the department may consider:

(A) The population of the location;

(B) The cost of conducting the sale in the location;

(C) The type of property being sold;

(D) The public access to the proposed sale location, including
parking; and

(E) Any other indicator of market potential of the location.

(2) For a sale by public oral auction held under subsection (1) of
this section, the department shall publish at least a single notice of
the sale at least 10 days in advance of the sale in a newspaper of
general circulation in the county where the property is to be sold. For a
sale by a method other than public oral auction, the department shall
publish at least a single notice in a newspaper of general circulation in
Marion County.

(3) Securities listed on an established stock exchange shall be
sold on the exchange at prices prevailing on the exchange at the time of
sale. Other securities may be sold over the counter at prices prevailing
at the time of sale or by any other method the administrator considers
advisable.

(4) All securities and other intangible properties presumed
abandoned under ORS 98.362 and delivered to the department shall be sold
by the department at such time and place and in such manner as in the
department’s judgment will bring the highest return.

(5) The department shall indemnify the holder of securities
presumed abandoned under ORS 98.322 to the extent allowed by the Oregon
Constitution. The department shall establish procedures by administrative
rule to pay the rightful owner proceeds received from securities that
were sold before the owner filed a claim to recover such securities.

(6) The purchaser at a sale conducted by the department pursuant to
this section shall receive title to the property purchased, free from all
claims of the owner or prior holder of the property and of all persons
claiming through or under them. The department shall execute all
documents necessary to complete the transfer of title. [1957 c.670 §19;
1983 c.716 §15; 1993 c.694 §13; 2003 c.272 §4] If the
Department of State Lands determines after investigation that any
property delivered under ORS 98.352 has insubstantial commercial value,
the department may destroy or otherwise dispose of the property at any
time. No action or proceeding may be maintained against the state or any
officer or against the holder for or on account of any action taken by
the department pursuant to this section. [1983 c.716 §37; 1993 c.694 §14](1) All funds received under ORS 98.302 to
98.436 and 98.992, including the proceeds from the sale of unclaimed
property under ORS 98.382, shall be deposited by the Department of State
Lands in the Common School Fund Account with the State Treasurer. Before
making the deposit the department shall record the name and last-known
address of each person appearing from the holders’ reports to be entitled
to the unclaimed property and the name and last-known address of each
insured person or annuitant, and with respect to each policy or contract
listed in the report of a life insurance corporation, its number, the
name of the corporation, and the amount due.

(2) Before making a deposit to the credit of the Common School Fund
Account, the department may deduct:

(a) Any costs in connection with sale of unclaimed property;

(b) Any costs of mailing and publication in connection with efforts
to locate owners of unclaimed property as prescribed by rule; and

(c) Reasonable service charges. [1957 c.670 §20; 1983 c.716 §16;
1989 c.183 §2; 1993 c.694 §15] There is created from
unclaimed property funds an Unclaimed Property Revolving Fund. The moneys
in the fund are appropriated continuously to the Department of State
Lands for the purpose of repaying claims as provided under ORS 98.396.
[1969 c.594 §66; 1983 c.716 §17; 1993 c.694 §16]A person claiming an
interest in unclaimed property reported to the Department of State Lands
may file a claim to the property or to the proceeds from the sale of the
property at any time after the person learns that the property has been
reported to the department. Claims shall be filed on the form prescribed
by the department. The department may require the person to provide a
lost instrument bond if the claim is for securities and the person does
not surrender the original certificate to the department. [1957 c.670
§21; 1977 c.609 §1; 1983 c.716 §18; 1991 c.213 §1; 1993 c.694 §17; 1997
c.85 §1] (1) The
Department of State Lands shall consider any claim filed under ORS 98.392
and may hold a hearing and receive evidence concerning the claim. If a
hearing is held, the department shall prepare findings and a decision in
writing on each claim filed, stating the substance of any evidence heard
by the department and the reasons for the decision. The decision shall be
a public record.

(2) If the claim allowed is for property deposited in the Common
School Fund Account, the department shall return the property or make
payment of the proceeds of the sale of the property to the claimant.

(3) If the claim allowed is for funds deposited in the General
Fund, the department shall pay the claim and file a request for
reimbursement with the State Treasurer. The State Treasurer shall
reimburse the department within five working days from the fund against
which the check or order represented in the claim was issued. [1957 c.670
§22; 1983 c.716 §19; 1989 c.183 §3; 1993 c.694 §18](1) A person aggrieved by a decision of the administrator may
request a hearing regarding the decision. The Department of State Lands
shall conduct the hearing as a contested case proceeding in accordance
with ORS 183.413 to 183.470.

(2) If the administrator fails to act on a claim within 120 days
after a person files the claim under ORS 98.392, the person may file a
petition under ORS 183.484 to request a court to compel the department to
act pursuant to ORS 183.490. [1957 c.670 §23; 1983 c.716 §20; 2003 c.272
§5] (1) The
Department of State Lands may require a person who has not filed a report
to file a verified report stating whether or not the person is holding
any unclaimed property reportable or deliverable under ORS 98.352.

(2) The department may at reasonable times and upon reasonable
notice examine the records of any person to determine whether the person
has complied with the provisions of ORS 98.352. The department may
conduct the examination even if the person believes it is not in
possession of any property reportable or deliverable under this section.

(3) To the extent possible, the department shall enter into
agreements with state and federal agencies that regularly examine the
records of financial institutions, trust companies, financial holding
companies and bank holding companies, as defined in ORS 706.008, and of
subsidiaries of such financial institutions, trust companies, financial
holding companies and bank holding companies. Under the agreements, the
state and federal agencies shall examine the records of the financial
institution, trust company, financial holding company, bank holding
company or subsidiary to determine compliance with ORS 98.352. If a state
or federal agency does not enter into an agreement with the department
under this subsection, the department shall conduct the examination of
the records of financial institutions, trust companies, financial holding
companies and bank holding companies to determine compliance with ORS
98.352.

(4) If a holder fails to maintain the records required by ORS
98.354 and the records of the holder available for the periods subject to
ORS 98.302 to 98.436 and 98.992 are insufficient to permit the
preparation of a report, the department may issue a finding that requires
the holder to report and pay the amounts that the department reasonably
estimates from the report and available records. The department shall
include in its finding a notice substantially similar to that specified
under ORS 183.415. Additionally, the notice shall include information
about opportunities to resolve disputes through a collaborative dispute
resolution process.

(5) Any holder subject to examination under this section may
request a hearing regarding the findings issued by the department. The
department shall conduct a hearing under this subsection as a contested
case proceeding in accordance with ORS 183.413 to 183.470. [1957 c.670
§25; 1983 c.716 §22; 1993 c.694 §20; 1997 c.480 §§1,1a; 2001 c.377 §41;
2003 c.272 §6](1) If any person refuses to deliver property to the Department
of State Lands as required under ORS 98.352, the department may bring a
suit or action in a court of appropriate jurisdiction to enforce delivery
of the property.

(2) The department may require a person who fails to pay or deliver
property within the time prescribed by ORS 98.302 to 98.436 and 98.992 to
pay interest from the date the department determines interest should have
been paid. Interest shall be paid at the rate set by the Director of the
Department of Revenue pursuant to ORS 305.220 (1) and (3). [1957 c.670
§26; 1983 c.716 §23; 1993 c.694 §26; 2003 c.272 §7] The administrator is authorized to adopt necessary
rules to carry out the provisions of ORS 98.302 to 98.436 and 98.992.
[1957 c.670 §27; 1983 c.716 §25](1) The Department
of State Lands may enter into agreements with other states to exchange
information needed to enable this or another state to audit or otherwise
determine unclaimed property that this state or another state may be
entitled to subject to a claim of custody under ORS 98.348. The
department may adopt rules requiring the other states to report
information needed to enable compliance with agreements made pursuant to
this section and prescribing the form for making a claim of custody under
ORS 98.348.

(2) To avoid conflicts between the department’s procedures and the
procedures of administrators in other jurisdictions that enact an
unclaimed property act, the department, so far as is consistent with the
purposes, policies and provisions of ORS 98.302 to 98.436 and 98.992,
before adopting, amending or repealing rules, shall advise and consult
with administrators in other jurisdictions that enact a substantially
similar unclaimed property act and take into consideration the rules of
administrators in other jurisdictions that enact an unclaimed property
act.

(3) The department may join with other states to seek enforcement
of ORS 98.302 to 98.436 and 98.992 against any person who is or may be
holding property reportable under ORS 98.352.

(4) At the request of another state, the Attorney General of this
state may bring an action in the name of another state to enforce the
unclaimed property laws of the other state against a holder in this state
of property subject to escheat or a claim of abandonment by the other
state, if the other state has agreed to pay expenses incurred by the
attorney general in bringing the action, including attorney fees.

(5) The department, through the Attorney General of this state, may
request the attorney general of another state or any other person to
bring an action in the other state in the name of the department against
the holder of property in the other state that is subject to escheat or a
claim of abandonment by this state. This state shall pay all expenses
including attorney fees in any action under this subsection. Any expenses
paid pursuant to this subsection may not be deducted from the amount that
is subject to the claim by the owner under ORS 98.302 to 98.436 and
98.992.

(6) The Department of State Lands shall not disclose to any other
state any confidential information provided by the Department of Revenue
from taxpayer returns. [1983 c.716 §39; 1985 c.403 §3; 1993 c.694 §21] This Act shall be so construed
as to effectuate its general purpose to make uniform the law of those
states which enact the Uniform Disposition of Unclaimed Property Act.
[1957 c.670 §2]Note: Pursuant to 173.160, Legislative Counsel has not substituted
specific ORS references for the words “this Act” in sections 1, 2 and 36,
chapter 670, Oregon Laws 1957, compiled as 98.432, 98.436 and 98.991. The
sections for which substitution otherwise would be made may be determined
by referring to the 1957 Comparative Section Table located in Volume 20
of ORS. This Act may be cited as the Uniform
Disposition of Unclaimed Property Act. [1957 c.670 §1]Note: See note under 98.432.UNORDERED GOODS (1) If a person mails or
sends goods, newspapers or periodicals of a value of less than $20 to a
person in this state without first receiving an order for such items, the
items are conclusively presumed to be a gift and no obligation shall
accrue against the recipient.

(2) If a person deliberately and intentionally mails or sends
goods, newspapers, or periodicals of a value in excess of $20 to a person
in this state without first receiving an order for such items, the items
are presumed to be a gift. [1969 c.354 §1]MOLDS AND FORMS

(1) “Customer” means any person who causes a molder to:

(a) Fabricate, cast or otherwise make a mold; or

(b) Use a mold to manufacture, assemble or otherwise make any
product.

(2) “Mold” includes any die, mold or form used to manufacture,
assemble or otherwise make any product.

(3) “Molder” means any person including, but not limited to a tool
or die maker, who:

(a) Fabricates, casts or otherwise makes a mold; or

(b) Uses a mold to manufacture, assemble or otherwise make any
product. [1981 c.333 §1] If a customer fails
to take possession of any mold within three years after the date on which
the customer last caused the molder to use the mold, the molder may take
all rights, title and interest in the mold pursuant to ORS 98.480. [1981
c.333 §2] (1) If a molder chooses to
take all rights, title and interest in any mold, the molder shall mail to
the customer, at the customer’s last-known address, a notice. The molder
shall send the notice by registered or certified mail, return receipt
requested.

(2) The notice required by subsection (1) of this section shall
state that the molder intends to terminate all of the customer’s rights,
title and interest in the mold unless the customer:

(a) Responds within 120 days from the date the notice was mailed;
and

(b) Arranges with the molder that the customer shall take
possession of the mold or that the molder shall store the mold for the
customer. [1981 c.333 §3; 1991 c.249 §11] If a molder
does not choose to exercise the rights provided under ORS 87.870 to
87.876 or 98.475, the molder shall render the mold unusable as a mold and
destroy or otherwise dispose of the mold. [1981 c.333 §4; 2001 c.863 §5] ORS
98.470 to 98.490 apply except as otherwise provided by written agreement
between any molder and the molder’s customer. [1981 c.333 §5]REMOVAL OF TREES OR LOGS FROM COUNTY ROADS OR STATE HIGHWAYS(1) No person shall place or deposit any
trees, timber, logs, poles or piling upon the right of way of any state
highway or upon any real property adjacent thereto which is owned by the
state, by and through its Department of Transportation, except with
permission of any duly authorized weighmaster, motor carrier enforcement
officer or peace officer given in connection with the removal of portions
of loads, which removal is pursuant to ORS 810.490.

(2) Any trees, timber, logs, poles or piling so placed or deposited
whether pursuant to said permission of a weighmaster, motor carrier
enforcement officer or peace officer or accidentally or in violation of
this section, or which have fallen, dropped or been blown upon said right
of way or said adjacent property, shall be removed by the owner thereof
within a period of not more than 30 days. [1953 c.312 §1; 1983 c.338
§884; 1993 c.741 §103]
Any trees, timber, logs, poles or piling which remain for a period of
more than 30 days upon the right of way of any state highway or upon real
property adjacent thereto which is owned by the state, by and through its
Department of Transportation, shall be conclusively presumed abandoned,
and title thereto shall vest in the state, by and through its Department
of Transportation, and the department is hereby authorized to remove,
destroy, sell or otherwise dispose of the same. [1953 c.312 §2]The provisions of ORS 98.640 and 98.642 shall not apply
to trees, timber, logs, poles or piling which have been placed or
deposited or allowed to remain upon the right of way of a state highway
or real property adjacent thereto under the provisions of a permit
granted by the Department of Transportation, nor to poles erected upon
the right of way of a state highway for the purpose of carrying
telegraph, telephone or electric lines or wires. [1953 c.312 §3](1) No person shall place or deposit any
trees, timber, logs, poles or piling upon the right of way of any county
road, except with permission of any duly authorized weighmaster or peace
officer given in connection with the removal of portions of loads, which
removal is pursuant to ORS 810.490.

(2) Any trees, timber, logs, poles or piling so placed or
deposited, accidentally or in violation of this section, or which have
fallen, dropped or been blown upon said right of way, shall be removed by
the owner thereof within a period of not more than 30 days. [1953 c.339
§1; 1983 c.338 §885]
Any trees, timber, logs, poles or piling which remain for a period of
more than 30 days upon the right of way of any county road shall be
conclusively presumed abandoned, and title thereto shall vest in the
county having jurisdiction over such county road, and the county court or
board of county commissioners of said county may remove, destroy, sell or
otherwise dispose of the same. [1953 c.339 §2]

(1) “Owner of a parking facility” means:

(a) The owner, lessee or person in lawful possession of a private
parking facility; or

(b) Any officer or agency of this state with authority to control
or operate a parking facility.

(2) “Owner of proscribed property” means the owner, lessee or
person in lawful possession of proscribed property.

(3) “Parking facility” means any property used for motor vehicle
parking.

(4) “Proscribed property” means any part of private property:

(a) Where parking is not normally permitted at all; or

(b) That is used primarily for residences, including but not
limited to houses and apartments, where there is designated parking for
not more than 10 vehicles. [1979 c.100 §2; 1981 c.861 §23; 1983 c.436 §2]No person, without the permission of:

(1) The owner of a parking facility, shall leave or park any
vehicle on the parking facility if there is a sign displayed in plain
view at the parking facility prohibiting public parking thereon or
restricting parking thereon.

(2) The owner of proscribed property, shall leave or park any
vehicle on the proscribed property whether or not there is a sign
prohibiting or restricting parking on the proscribed property. [1953
c.575 §1; 1979 c.100 §3; 1981 c.861 §24; 1983 c.436 §3](1) If a motor vehicle has been left or
parked in violation of ORS 98.810, the owner of the parking facility or
the owner of the proscribed property, after notice to the local law
enforcement agency, may have the motor vehicle towed from the parking
facility or the proscribed property and placed in storage at a public
garage or public parking lot.

(2) The garagekeeper or public parking operator is entitled to a
lien on the vehicle and its contents for the garagekeeper’s or operator’s
just and reasonable charges and may retain possession thereof until the
just and reasonable charges for the towage, care and storage of the
vehicle have been paid if the garagekeeper or public parking operator
complies with the following requirements:

(a) The garagekeeper or public parking operator shall notify the
local law enforcement agency of the location of the vehicle within one
hour after the vehicle is placed in storage;

(b) If the unclaimed vehicle is registered in Oregon, the
garagekeeper or public parking operator shall give notice, within 15 days
after the vehicle is placed in storage, to the vehicle owner or any other
person with an interest in the vehicle, as indicated by the certificate
of title. If notice under this paragraph is given by mail, it must be
transmitted within the 15-day period, but need not be received within
that period, but within a reasonable time. If the garagekeeper or public
parking operator fails to comply with the notice requirements of this
paragraph, the amount of the lien is limited to a sum equal to the
reasonable expenses incurred within the 15-day period for towage, care
and storage of the vehicle; and

(c) If the unclaimed vehicle is not registered in Oregon, the
garagekeeper or public parking operator shall, within 15 days after the
vehicle is placed in storage, notify and request the title information
and the name, address and telephone number of the vehicle owner from the
motor vehicle agency for the state in which the vehicle is registered.
The garagekeeper or public parking operator shall have 15 days from the
date of receipt of the information from the state motor vehicle agency to
notify the vehicle owner or any other person with an interest in the
vehicle, as indicated by the certificate of title. If notice under this
paragraph is given by mail, it must be transmitted within 15 days from
the receipt of information from the state motor vehicle agency, but need
not be received within that period, but within a reasonable time. If the
garagekeeper or public parking operator fails to comply with the notice
requirements of this paragraph, the amount of the lien is limited to a
sum equal to the reasonable expenses incurred within the period between
storage of the vehicle and receipt of information from the state motor
vehicle agency for towage, care and storage of the vehicle.

(3) The lien created by subsection (2) of this section may be
foreclosed only in the manner provided by ORS 87.172 (3) and 87.176 to
87.206 for foreclosure of liens arising or claimed under ORS 87.152.
[1953 c.575 §2; 1977 c.634 §1; 1979 c.100 §4; 1981 c.861 §25; 1983 c.436
§4; 1993 c.385 §2; 2001 c.424 §1]The lien created by ORS 98.812 shall
have preference over any and all other liens or encumbrances upon such
motor vehicle. [1953 c.575 §3]
A person who is the owner, or is in lawful possession, of private
property on which a motor vehicle has been abandoned may have the motor
vehicle towed from the property if:

(1) The person affixes a notice to the vehicle stating that the
vehicle will be towed if it is not removed. The notice required by this
subsection must remain on the vehicle for 72 hours before the vehicle may
be removed.

(2) The person notifies the local law enforcement agency of the
intent to have the vehicle towed.

(3) The person fills out and signs a form that includes:

(a) A description of the vehicle to be towed;

(b) The location of the property from which the vehicle will be
towed; and

(c) A statement that the person has complied with subsections (1)
and (2) of this section. [1995 c.758 §1](1) A person who tows a vehicle
pursuant to ORS 98.830 is immune from civil liability for towing the
vehicle if the person has a form described in ORS 98.830 (3), filled out
by a person purporting to be the owner or a person in lawful possession
of the private property from which the vehicle is towed. This subsection
does not grant immunity for any loss, damage or injury arising out of any
negligent or willful damage to, or destruction of, the vehicle that
occurs during the course of the towing.

(2) The person who tows a vehicle pursuant to ORS 98.830 is
entitled to a lien on the vehicle and its contents for the person’s just
and reasonable charges and may retain possession thereof until the just
and reasonable charges for the towage, care and storage of the vehicle
have been paid if the person complies with the following requirements:

(a) The person shall notify the local law enforcement agency of the
location of the vehicle within one hour after the vehicle is placed in
storage;

(b) If the unclaimed vehicle is registered in Oregon, the person
shall give notice by certified mail, within 15 days after the vehicle is
placed in storage, to the vehicle owner and any other person with an
interest in the vehicle, as indicated by the certificate of title. If
notice under this paragraph is given by mail, it must be transmitted
within the 15-day period, but need not be received within that period,
but within a reasonable time. If the person who tows the vehicle fails to
comply with the notice requirements of this paragraph, the amount of the
lien is limited to a sum equal to the reasonable expenses incurred within
the 15-day period for towage, care and storage of the vehicle; and

(c) If the unclaimed vehicle is not registered in Oregon, the
person shall, within 15 days after the vehicle is placed in storage,
notify and request the title information and the name, address and
telephone number of the vehicle owner from the motor vehicle agency for
the state in which the vehicle is registered. The person shall have 15
days from the date of receipt of the information from the state motor
vehicle agency to notify the vehicle owner or any other person with an
interest in the vehicle, as indicated by the certificate of title. If
notice under this paragraph is given by mail, it must be transmitted
within 15 days from the receipt of information from the state motor
vehicle agency, but need not be received within that period, but within a
reasonable time. If the person fails to comply with the notice
requirements of this paragraph, the amount of the lien is limited to a
sum equal to the reasonable expenses incurred within the period between
storage of the vehicle and receipt of information from the state motor
vehicle agency for towage, care and storage of the vehicle.

(3) The lien created by subsection (2) of this section may be
foreclosed only in the manner provided by ORS 87.172 (3) and 87.176 to
87.206 for foreclosure of liens arising or claimed under ORS 87.152.
[1995 c.758 §2; 2001 c.424 §2]The procedure authorized by ORS 98.830 and 98.835 for removal of
abandoned motor vehicles from private property may be used by persons
described in ORS 98.805 as an alternative to the procedures described in
ORS 98.810 to 98.818. [1995 c.758 §4]PENALTIES (1) Any person who
willfully fails to render any report or perform other duties required
under this Act is guilty of a misdemeanor.

(2) Any person who willfully refuses to pay or deliver unclaimed
property to the Department of State Lands as required under this Act is
guilty of a misdemeanor. [1957 c.670 §36; 1993 c.694 §22]Note: See note under 98.432.

USA Statutes : oregon