75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session
NOTE: Matter within { + braces and plus signs + } in an
amended section is new. Matter within { - braces and minus
signs - } is existing law to be omitted. New sections are within
{ + braces and plus signs + } .
LC 711
House Bill 2154
Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
Presession filed (at the request of Governor Theodore R.
Kulongoski for Department of State Lands)
SUMMARY
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
Transfers responsibility for administering Uniform Disposition
of Unclaimed Property Act from Department of State Lands to State
Treasurer.
Requires State Treasurer to report annually to State Land Board
on collection and return of unclaimed property.
Abolishes Unclaimed Property Revolving Fund. Establishes
Unclaimed Property Account in Common School Fund. Continuously
appropriates moneys in account to State Treasurer for specified
purposes.
Becomes operative on July 1, 2011.
A BILL FOR AN ACT
Relating to unclaimed property; creating new provisions; amending
ORS 60.674, 62.720, 98.050, 98.302, 98.329, 98.348, 98.352,
98.353, 98.354, 98.356, 98.362, 98.366, 98.372, 98.376, 98.382,
98.384, 98.386, 98.388, 98.392, 98.396, 98.402, 98.412, 98.416,
98.422, 98.424, 98.991, 98.992, 178.065, 183.635, 273.105,
287A.474, 293.450, 293.455, 293.460, 314.840, 327.405, 657.665,
711.225, 711.230, 711.235, 711.590, 716.905 and 716.910; and
appropriating money.
Be It Enacted by the People of the State of Oregon:
SECTION 1. { + The duties, functions and powers of the
Department of State Lands relating to the administration of the
Uniform Disposition of Unclaimed Property Act, ORS 98.302 to
98.436, are imposed upon, transferred to and vested in the State
Treasurer. + }
SECTION 2. { + (1) The Director of the Department of State
Lands shall:
(a) Deliver to the State Treasurer all records and property
within the jurisdiction of the director that relate to the
duties, functions and powers transferred by section 1 of this
2009 Act; and
(b) Transfer to the State Treasurer those employees engaged
primarily in the exercise of the duties, functions and powers
transferred by section 1 of this 2009 Act.
(2) The State Treasurer shall take possession of the records
and property, and shall take charge of the employees and employ
them in the exercise of the duties, functions and powers
transferred by section 1 of this 2009 Act, without reduction of
compensation but subject to change or termination of employment
or compensation as provided by law.
(3) The Governor shall resolve any dispute between the
Department of State Lands and the State Treasurer relating to
transfers of records, property and employees under this section,
and the Governor's decision is final. + }
SECTION 3. { + The transfer of duties, functions and powers to
the State Treasurer by section 1 of this 2009 Act does not affect
any action, proceeding or prosecution involving or with respect
to such duties, functions and powers begun before and pending at
the time of the transfer, except that the State Treasurer is
substituted for the Department of State Lands in the action,
proceeding or prosecution. + }
SECTION 4. { + (1) Nothing in sections 1 to 6 of this 2009 Act
relieves a person of a liability, duty or obligation accruing
under or with respect to the duties, functions and powers
transferred by section 1 of this 2009 Act. The State Treasurer
may undertake the collection or enforcement of any such
liability, duty or obligation.
(2) The rights and obligations of the Department of State Lands
legally incurred under contracts, leases and business
transactions executed, entered into or begun before the operative
date specified in section 54 (1) of this 2009 Act accruing under
or with respect to the duties, functions and powers transferred
by section 1 of this 2009 Act are transferred to the State
Treasurer. For the purpose of succession to these rights and
obligations, the State Treasurer is a continuation of the
Department of State Lands and not a new authority. + }
SECTION 5. { + Notwithstanding the transfer of duties,
functions and powers by section 1 of this 2009 Act, the rules of
the Department of State Lands with respect to such duties,
functions or powers that are in effect on the operative date
specified in section 54 (1) of this 2009 Act continue in effect
until superseded or repealed by rules of the State Treasurer.
References in such rules of the Department of State Lands to the
Department of State Lands or an officer or employee of the
Department of State Lands are considered to be references to the
State Treasurer or an officer or employee of the State
Treasurer. + }
SECTION 6. { + Whenever, in any uncodified law or resolution
of the Legislative Assembly or in any rule, document, record or
proceeding authorized by the Legislative Assembly, in the context
of the duties, functions and powers transferred by section 1 of
this 2009 Act, reference is made to the Department of State
Lands, or an officer or employee of the Department of State
Lands, whose duties, functions or powers are transferred by
section 1 of this 2009 Act, the reference is considered to be a
reference to the State Treasurer or an officer or employee of the
State Treasurer who is charged with carrying out such duties,
functions and powers. + }
SECTION 7. { + Section 8 of this 2009 Act is added to and made
a part of ORS 98.302 to 98.436. + }
SECTION 8. { + The State Treasurer shall report to the State
Land Board, no later than June 30 of each year, on the activities
of the State Treasurer relating to the collection and return of
unclaimed property pursuant to ORS 98.302 to 98.436. The report
shall include, but need not be limited to, the following
information:
(1) The amount, in dollars, of the unclaimed property received
by the State Treasurer in the previous year.
(2) The amount, in dollars, of the unclaimed property returned
to the rightful owner in the previous year.
(3) The expenses of the State Treasurer in administering the
collection and return of unclaimed property pursuant to ORS
98.302 to 98.436. + }
SECTION 9. ORS 98.302 is amended to read:
98.302. As used in ORS 98.302 to 98.436 and 98.992, unless the
context otherwise requires:
{ - (1) 'Administrator' means the Director of the Department
of State Lands. - }
{ - (2) - } { + (1) + } '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) - } { + (2) + } '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) - } { + (3) + } 'Domicile' means the state of
incorporation of a corporation and the state of the principal
place of business of an unincorporated person.
{ - (5) - } { + (4) + } '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) - } { + (5) + } '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) - } { + (6) + } 'Insurance company' means an
association, corporation, fraternal or mutual benefit
organization, whether or not for profit, { - which - }
{ + that + } 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) - } { + (7) + } '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) - } { + (8) + } 'Last-known address' means a
description of the location of the apparent owner sufficient for
the purpose of delivery of mail.
{ - (10) - } { + (9) + } 'Lawful deduction' means a
deduction related to the purpose of an account or deposit, for
example, to satisfy unpaid utility bills.
{ - (11) - } { + (10) + } '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) - } { + (11) + } '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) - } { + (12) + } 'Service charge' means fees or
charges that are limited to a specific situation and that meet
basic contractual and notice requirements.
{ - (14) - } { + (13) + } 'State' means any state,
district, commonwealth, territory, insular possession or any
other area subject to the legislative authority of the United
States.
{ - (15) - } { + (14) + } '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.
SECTION 10. ORS 98.329 is amended to read:
98.329. A holder, with the written consent of the
{ - Department of State Lands - } { + State Treasurer + }, and
in compliance with rules prescribed by the { - department - }
{ + State Treasurer + }, may report and deliver property before
the property is presumed abandoned.
SECTION 11. ORS 98.348 is amended to read:
98.348. (1) At any time after property has been paid or
delivered to the { - Department of State Lands - } { + State
Treasurer + } 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 { + that escheated to or became subject
to a claim of abandonment by that state + } must be presented in
a form prescribed by the { - Department of State Lands - }
{ + State Treasurer + }. The
{ - department - } { + State Treasurer + } shall decide the
claim within 90 days after it is presented.
(3) The { - department - } { + State Treasurer + } 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.
SECTION 12. ORS 98.352 is amended to read:
98.352. (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 - } { + State Treasurer + } 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 - } { + need + } only be reported to the
{ - department - } { + State Treasurer + }.
(b) Funds in the possession of the Child Support Program
described in ORS 180.345 { - shall - } { + need + } only be
reported to the
{ - department - } { + State Treasurer + }.
(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 - } { + State
Treasurer + } 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 - } { + State Treasurer + } 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 - }
{ + State Treasurer + }. 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 - } { + State Treasurer + }.
(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.
SECTION 13. ORS 98.353 is amended to read:
98.353. (1) The { - Department of State Lands - } { + State
Treasurer + } 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 - } { + need + } 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. - }
{ + (2) Upon request by the State Treasurer:
(a) The Department of Consumer and Business Services, the
Department of Revenue and the office of the Secretary of State
shall assist the State Treasurer in determining which persons are
required to file a report under ORS 98.352 or who may make a
claim under ORS 98.392; and
(b) The Department of Consumer and Business Services, the
Department of Revenue, the Employment Department and the office
of the Secretary of State shall allow the State Treasurer to
include information about unclaimed property reporting
requirements and claims in the regular mailings of the
departments and office and in electronic form on their World Wide
Web pages. + }
SECTION 14. ORS 98.354 is amended to read:
98.354. (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 - } { + State Treasurer + }.
(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 - }
{ + State Treasurer + }.
SECTION 15. ORS 98.356 is amended to read:
98.356. (1) The { - Department of State Lands - } { + State
Treasurer + } 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 - }
{ + State Treasurer + } 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 - } { + State Treasurer + } is not
required to publish in such notice any item of less than $100
unless the
{ - department - } { + State Treasurer + } 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 - } { + State Treasurer + } shall
undertake reasonable efforts to locate owners of unclaimed
property reported to the { - department - } { + State
Treasurer + } 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 - } { + State
Treasurer + } 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 - } { + State
Treasurer + } may not disclose to the general public any
confidential information provided by the Department of Revenue
from taxpayer returns.
SECTION 16. ORS 98.362 is amended to read:
98.362. (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 - } { + State Treasurer + } as
follows:
(a) The original certificate shall be delivered to the
{ - department - } { + State Treasurer + } 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 - } { + State Treasurer + } 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 - } { + State Treasurer + } to the extent
allowed under the Oregon Constitution.
SECTION 17. ORS 98.366 is amended to read:
98.366. (1) Upon the payment or delivery of unclaimed property
to the { - Department of State Lands - } { + State
Treasurer + }, the state shall assume custody and shall be
responsible for the safekeeping thereof. Any person who pays or
delivers unclaimed property to the { - department - }
{ + State Treasurer + } 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 - }
{ + State Treasurer + } under ORS 98.352 may make payment to any
person appearing to the holder to be entitled to payment. The
{ - department - } { + State Treasurer + } 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 - } { + State Treasurer + } shall
reimburse the holder for the payment without imposing any fee or
other charge.
SECTION 18. ORS 98.372 is amended to read:
98.372. The owner is not entitled to receive income or other
increments { - which - } { + that + } have accrued on the
property after the property is paid or delivered to the
{ - Department of State Lands - } { + State Treasurer + } under
ORS 98.352.
SECTION 19. ORS 98.376 is amended to read:
98.376. 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 - }
{ + does + } 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 - } { + State Treasurer + },
provided that this section { - shall - } { + does + } not
affect any property interests { - which - } { + that + }
became vested prior to August 20, 1957.
SECTION 20. ORS 98.382 is amended to read:
98.382. (1)(a) All unclaimed property other than money and
securities delivered to the { - Department of State Lands - }
{ + State Treasurer + } under ORS 98.362 shall be sold by the
{ - department - } { + State Treasurer + } to the highest
bidder at public sale by the method and at the location that the
{ - department - } { + State Treasurer + } determines are the
most favorable for receiving the highest price for the property
involved. The { - department - } { + State Treasurer + } may
decline the highest bid and reoffer the property for sale if the
{ - department - } { + State Treasurer + } considers the
price bid insufficient. The { - department - } { + State
Treasurer + } need not offer any property for sale if, in the
{ - department's - } { + State Treasurer'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 - }
{ + State Treasurer + } 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 - }
{ + State Treasurer + } 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 - } { + State
Treasurer + } 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 - } { + State Treasurer + } 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 - } { + State Treasurer + } considers
advisable.
(4) All securities and other intangible properties presumed
abandoned under ORS 98.362 and delivered to the
{ - department - } { + State Treasurer + } shall be sold by
the { - department - } { + State Treasurer + } at such time
and place and in such manner as in the { - department's - }
{ + State Treasurer's + } judgment will bring the highest
return.
(5) The { - department - } { + State Treasurer + } shall
indemnify the holder of securities presumed abandoned under ORS
98.322 to the extent allowed by the Oregon Constitution. The
{ - department - } { + State Treasurer + } 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 - } { + State Treasurer + } 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 - } { + State Treasurer + } shall execute all
documents necessary to complete the transfer of title.
SECTION 21. ORS 98.384 is amended to read:
98.384. If the { - Department of State Lands - } { + State
Treasurer + } determines after investigation that any property
delivered under ORS 98.352 has insubstantial commercial value,
the { - department - } { + State Treasurer + } 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 - } { + State Treasurer + } pursuant to this
section.
SECTION 22. ORS 98.386 is amended to read:
98.386. (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 - } { + in the Unclaimed Property Account by + } the State
Treasurer. Before making the deposit the { - department - }
{ + State Treasurer + } 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. - }
{ + (2) Before making a deposit to the credit of the
Unclaimed Property Account, the State Treasurer may deduct any
costs in connection with the sale of unclaimed property. + }
SECTION 23. ORS 98.388 is amended to read:
98.388. { - 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. - }
{ + There is created in the Common School Fund from unclaimed
property funds the Unclaimed Property Account. Interest and other
income accruing to the account shall be retained in the account.
The moneys in the account are continuously appropriated to the
State Treasurer for the purposes of repaying claims as provided
under ORS 98.396 and for paying the expenses of the State
Treasurer associated with administering ORS 98.302 to 98.436. + }
SECTION 24. ORS 98.392 is amended to read:
98.392. A person claiming an interest in unclaimed property
reported to the { - Department of State Lands - } { + State
Treasurer + } 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 - }
{ + State Treasurer + }. Claims shall be filed on the form
prescribed by the { - department - } { + State Treasurer + }.
The { - department - } { + State Treasurer + } 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 - } { + State Treasurer + }.
SECTION 25. ORS 98.396 is amended to read:
98.396. (1) The { - Department of State Lands - } { + State
Treasurer + } 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 - } { + State
Treasurer + } shall prepare findings and a decision in writing on
each claim filed, stating the substance of any evidence heard by
the { - department - } { + State Treasurer + } and the
reasons for the decision. The decision shall be a public record.
(2) If the claim allowed is for property { + or for funds + }
deposited in the { - Common School Fund - } { + Unclaimed
Property + } Account, the { - department - } { + State
Treasurer + } 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 - } { + State Treasurer + } shall
pay the claim { + out of the General Fund + } { - 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 - } .
SECTION 26. ORS 98.402 is amended to read:
98.402. (1) A person aggrieved by a decision of the
{ - administrator - } { + State Treasurer made under ORS
98.396 + } 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. - } { + The hearing shall be conducted as a contested
case proceeding in accordance with ORS chapter 183. + }
(2) If the { - administrator - } { + State Treasurer + }
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 - }
{ + State Treasurer + } to act pursuant to ORS 183.490.
SECTION 27. ORS 98.412 is amended to read:
98.412. (1) The { - Department of State Lands - } { + State
Treasurer + } 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 - } { + State Treasurer + } 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 - }
{ + State Treasurer + } 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 - }
{ + State Treasurer + } 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 - } { + State Treasurer + } under this
subsection, the { - department - } { + State Treasurer + }
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 - }
{ + State Treasurer + } may issue a finding that requires the
holder to report and pay the amounts that the
{ - department - } { + State Treasurer + } reasonably
estimates from the report and available records. The
{ - department - } { + State Treasurer + } 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 - } { + State Treasurer + }. The
{ - department - } { + State Treasurer + } shall conduct a
hearing under this subsection as a contested case proceeding in
accordance with ORS { - 183.413 to 183.470 - } { + chapter
183 + }.
SECTION 28. ORS 98.416 is amended to read:
98.416. (1) If any person refuses to deliver property to the
{ - Department of State Lands - } { + State Treasurer + } as
required under ORS 98.352, the { - department - } { + State
Treasurer + } may bring a suit or action in a court of
appropriate jurisdiction to enforce delivery of the property.
(2) The { - department - } { + State Treasurer + } 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 - } { + State Treasurer + } 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).
SECTION 29. ORS 98.422 is amended to read:
98.422. The { - administrator - } { + State Treasurer + }
is authorized to adopt necessary rules to carry out the
provisions of ORS 98.302 to 98.436 and 98.992.
SECTION 30. ORS 98.424 is amended to read:
98.424. (1) The { - Department of State Lands - } { + State
Treasurer + } 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 - } { + State
Treasurer + } 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 - }
{ + State Treasurer's + } procedures and the procedures of
administrators in other jurisdictions that enact an unclaimed
property act, the
{ - department - } { + State Treasurer + }, { - so - }
{ + as + } 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 - } { + State Treasurer + } 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 - } { + State Treasurer + }, 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 - }
{ + State Treasurer + } 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 { + from the
Unclaimed Property Account + }. 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 - } { + State
Treasurer may + } not disclose to any other state any
confidential information provided by the Department of Revenue
from taxpayer returns.
SECTION 31. ORS 98.991 is amended to read:
98.991. (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 - }
{ + State Treasurer + } as required under this Act is guilty of
a misdemeanor.
SECTION 32. ORS 98.992 is amended to read:
98.992. A person who willfully fails to render any report, to
pay or deliver property or to perform other duties required by
ORS 98.302 to 98.436 and 98.992 may be required to forfeit and
pay to the State Treasurer to be deposited in the { - Common
School Fund Account - } { + Unclaimed Property Account + }, an
amount determined by the
{ - Department of State Lands - } { + State Treasurer + }
pursuant to ORS 183.745 of not more than $1,000 for individuals
and $50,000 for corporations. This penalty shall be assessed only
after at least one reporting cycle, and only after the
{ - department - } { + State Treasurer + } has provided the
person with written instructions, including copies of applicable
laws and policies. The { - department - } { + State
Treasurer + } may waive any penalty due under this section with
appropriate justification.
SECTION 33. ORS 60.674 is amended to read:
60.674. Assets of a dissolved corporation that should be
distributed to a creditor, claimant or shareholder of the
corporation who cannot be found shall be reduced to cash and,
within one year after the final distribution in such liquidation
or winding up is payable, deposited with the { - Department of
State Lands - } { + State Treasurer + }. The receiver or other
liquidating agent shall prepare in duplicate and under oath a
statement containing the names and last-known addresses of the
persons entitled to such funds. One of the statements shall be
filed with the { - Department of State Lands - } { + State
Treasurer + } with the cash and another shall be delivered to the
office { + of the Secretary of State + } for filing. The owner,
heirs or personal representatives of the owner, may file a claim
with the { - Department of State Lands - } { + State
Treasurer + } in the manner provided by ORS 98.392 and 98.396.
SECTION 34. ORS 62.720 is amended to read:
62.720. (1) All intangible personal property distributable in
the course of a voluntary or involuntary dissolution of a
cooperative that is unclaimed by the owner within two years after
the date for final distribution is presumed abandoned { - . Such
property shall be - } { + and is + } subject to the provisions
of ORS 98.302 to 98.436 and 98.992, except that with respect to
agricultural cooperatives, the report of unclaimed property shall
be filed with the { - Department of State Lands - } { + State
Treasurer + } as set forth in ORS 98.352. A copy of the report
shall also be filed with the State Board of Higher Education.
(2) All unclaimed property specified in the report required by
ORS 98.352 shall be delivered { - within the time specified in
ORS 98.362 to the Department of State Lands which - } { + to
the State Treasurer, who + } shall assume custody and shall be
responsible for the safekeeping { - thereof - } { + of the
property + }. The { - department - } { + State Treasurer + }
shall reconcile the report to the delivered funds, deduct the
costs as provided for in subsection (3) of this section, and
forward the funds to the State Board of Higher Education within
14 working days of receipt of the funds. Any person who pays or
delivers unclaimed property to the { - Department of State
Lands - } { + State Treasurer + } under this section 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.
(3) All funds received under this section shall be used for the
benefit of Oregon State University in such programs related to
agricultural research as the university may determine except for:
(a) The payment of claims which may be made pursuant to this
section; and
(b) The payment of expenses of mailing and publication in
connection with any unclaimed property, reasonable service
charges and expenses of the { - Department of State Lands - }
{ + State Treasurer + } in connection with claims made pursuant
to ORS 98.392 to 98.402.
(4) The provisions of ORS 98.392 to 98.402 are applicable to
claims against unclaimed property delivered to the State Board of
Higher Education pursuant to this section. The State Board of
Higher Education shall pay such claims from funds delivered to it
pursuant to this section within 30 days of receipt of a verified
copy of a finding and decision of the { - Department of State
Lands - } { + State Treasurer + } made pursuant to ORS 98.396 or
a certified copy of a judgment made pursuant to ORS 98.402.
(5) As used in this section, an agricultural cooperative is any
cooperative in which farmers act together in producing,
processing, preparing for market, handling or marketing the
agricultural products of such farmers, and any cooperative in
which farmers act together in purchasing, testing, grading,
processing, distributing and furnishing farm supplies or farm
business services.
(6) The provisions of this section are applicable with respect
to the voluntary or involuntary dissolution of any cooperative,
which dissolution commenced on or after January 1, 1970.
SECTION 35. ORS 98.050 is amended to read:
98.050. (1) The { - administrator - } { + State
Treasurer + } may compile information or data in the possession
of the { - Department of State Lands - } { + State
Treasurer + } into finder's reports at the request of any person
to assist in finding the owners of abandoned or unclaimed
property.
(2) The { - administrator - } { + State Treasurer + } 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) 'Finder's report' means any report prepared by the
State Treasurer for the benefit of any person to assist in
finding the owners of abandoned or unclaimed property. + }
{ - (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. - }
SECTION 36. ORS 178.065 is amended to read:
178.065. For the purpose of requesting a state or nationwide
criminal records check under ORS 181.534, the State Treasurer may
require the fingerprints of a person who:
(1) Is employed or applying for employment by the State
Treasurer;
{ + (2) Is, or will be, working or providing services in a
position in which the person has responsibility for auditing
unclaimed property; + }
{ - (2) - } { + (3) + } Provides services or seeks to
provide services to the State Treasurer as a contractor, vendor
or volunteer; or
{ - (3) - } { + (4) + } Has been appointed or is being
considered for appointment to a board or commission by the State
Treasurer.
SECTION 37. ORS 183.635 is amended to read:
183.635. (1) Except as provided in this section, all agencies
must use administrative law judges assigned from the Office of
Administrative Hearings established under ORS 183.605 to conduct
contested case hearings, without regard to whether those hearings
are subject to the procedural requirements for contested case
hearings.
(2) The following agencies need not use administrative law
judges assigned from the office:
(a) Attorney General.
(b) Boards of stewards appointed by the Oregon Racing
Commission.
(c) Bureau of Labor and Industries and the Commissioner of the
Bureau of Labor and Industries.
(d) Department of Corrections.
(e) Department of Education, State Board of Education and
Superintendent of Public Instruction.
(f) Department of Higher Education and institutions of higher
education listed in ORS 352.002.
(g) Department of Human Services for vocational rehabilitation
services cases under 29 U.S.C. 722(c) and disability
determination cases under 42 U.S.C. 405.
(h) Department of Revenue.
(i) Department of State Police.
(j) Employment Appeals Board.
(k) Employment Relations Board.
(L) Energy Facility Siting Council.
(m) Fair Dismissal Appeals Board.
(n) Governor.
(o) Land Conservation and Development Commission.
(p) Land Use Board of Appeals.
(q) Local government boundary commissions created pursuant to
ORS 199.430.
(r) Oregon Youth Authority.
(s) Psychiatric Security Review Board.
(t) Public Utility Commission.
(u) Secretary of State.
(v) State Accident Insurance Fund Corporation.
(w) State Apprenticeship and Training Council.
(x) State Board of Parole and Post-Prison Supervision.
(y) State Land Board.
(z) State Treasurer { + , except for hearings held pursuant to
ORS 98.402 + }.
(aa) Wage and Hour Commission.
(3) The Workers' Compensation Board is exempt from using
administrative law judges assigned from the office for any
hearing conducted by the board under ORS chapters 147, 654 and
656. Except as specifically provided in this subsection, the
Department of Consumer and Business Services must use
administrative law judges assigned from the office only for
contested cases arising out of the department's powers and duties
under:
(a) ORS chapter 59;
(b) ORS 200.005 to 200.075;
(c) ORS chapter 455;
(d) ORS chapter 674;
(e) ORS chapters 706 to 716;
(f) ORS chapter 717;
(g) ORS chapters 722, 723, 725 and 726; and
(h) ORS chapters 731, 732, 733, 734, 735, 737, 742, 743, 743A,
744, 746, 748 and 750.
(4) Notwithstanding any other provision of law, in any
proceeding in which an agency is required to use an
administrative law judge assigned from the office, an officer or
employee of the agency may not conduct the hearing on behalf of
the agency.
(5) Notwithstanding any other provision of ORS 183.600 to
183.690, an agency is not required to use an administrative law
judge assigned from the office if:
(a) Federal law requires that a different administrative law
judge or hearing officer be used; or
(b) Use of an administrative law judge from the office could
result in a loss of federal funds.
(6) Notwithstanding any other provision of this section, the
Department of Environmental Quality must use administrative law
judges assigned from the office only for contested case hearings
conducted under the provisions of ORS 183.413 to 183.470.
SECTION 38. ORS 273.105 is amended to read:
273.105. (1) The Distributable Income Account is established
within the Common School Fund. The Department of State Lands
shall administer this account in accordance with section 4,
Article VIII { - , - } { + of the + } Oregon Constitution, and
applicable laws.
(2) The following moneys in the Common School Fund shall be
credited to the Distributable Income Account:
(a) Moneys received under ORS 390.715 and 390.725 after
deducting the administrative costs of the State Parks and
Recreation Department.
(b) So much of the income derived from the investment of the
Common School Fund as the State Land Board deems appropriate
after payment of the expenses of the State Land Board authorized
to be paid under section 2 (2), Article VIII of the Oregon
Constitution.
(c) The income { + , less expenses, + } derived from unclaimed
property held by the { - Director of the Department of State
Lands - } { + State Treasurer + } or deposited in the
{ - Common School Fund - } { + Unclaimed Property Account + }.
(d) Other moneys received by the Department of State Lands that
are required by law to be credited to the Distributable Income
Account.
(3) All other moneys received by the Department of State Lands
shall be credited to the Common School Fund.
(4) The moneys in the Distributable Income Account are
appropriated continuously for apportionment according to ORS
327.410.
SECTION 39. ORS 287A.474 is amended to read:
287A.474. (1) The county fiscal officer shall prepare a report
of all warrants and checks issued more than two years prior to
July 1 of that year { - which - } { + that + } have not been
paid, pursuant to ORS 98.352.
(2) The lawful owner of any warrant or check included in any
list referred to in subsection (1) of this section, not presented
to the county treasurer for payment and not paid, thereafter may
file a claim with the { - Department of State Lands - }
{ + State Treasurer + } in the manner provided by ORS 98.392 and
98.396.
SECTION 40. ORS 293.450 is amended to read:
293.450. (1) Before October 1 of each year, { - the - }
{ + an + } agency that maintains an account pursuant to ORS
293.445 shall prepare a report pursuant to ORS 98.352 of all
checks or orders drawn by it that have been outstanding for a
period of more than two years prior to July 1, and that have not
been paid by the State Treasurer.
(2) The report shall not include checks or orders that have
already been paid pursuant to indemnity bonds.
(3) The agency shall forward the report to the { - Department
of State Lands - } { + State Treasurer + } before November 1.
(4) The { - Department of State Lands shall - } { + State
Treasurer may + } not require the Department of Revenue to remit
funds being held by the Department of Revenue prior to January 1,
1994.
SECTION 41. ORS 293.455 is amended to read:
293.455. (1) After October 1, the State Treasurer may refuse
payment of the unpresented checks or orders included in the
report referred to in ORS 293.450. { - In accordance with
procedures developed by the Department of State Lands and
approved by the State Treasurer, the agency shall instruct the
State Treasurer to do the following - } { + The State Treasurer
shall + }:
(a) Transfer and credit the amounts of the unpresented checks
or orders dedicated for general funding to the General Fund.
(b) Transfer all other funds to the { - Department of State
Lands for deposit in the - } Unclaimed Property { - Revolving
Fund - } { + Account + } within the Common School Fund
{ - Account - } .
(c) Transfer and credit the amounts of the unpresented checks
issued under ORS chapters 316 and 317 to the { - Department of
State Lands for deposit in the - } Unclaimed Property
{ - Revolving Fund - } { + Account + } within the Common School
Fund { - Account - } .
(2) In each instance, the State Treasurer shall issue an
official receipt for the amount { - so - } transferred or
credited { + under subsection (1) of this section + }.
{ - (3) If the State Treasurer pays the owner of an
unpresented check or order included in the report referred to in
ORS 293.450 before the funds are transferred to the Department of
State Lands, this information shall be reported to the Department
of State Lands. - }
SECTION 42. ORS 293.460 is amended to read:
293.460. The lawful owner of any check or order included in the
report referred to in ORS 293.450, not presented to the State
Treasurer for payment and not paid, thereafter may file a claim
with the { - Department of State Lands - } { + State
Treasurer + } in the manner provided by ORS 98.392 and 98.396.
SECTION 43. ORS 314.840 is amended to read:
314.840. (1) The Department of Revenue may:
(a) Furnish any taxpayer, representative authorized to
represent the taxpayer under ORS 305.230 or person designated by
the taxpayer under ORS 305.193, upon request of the taxpayer,
representative or designee, with a copy of the taxpayer's income
tax return filed with the department for any year, or with a copy
of any report filed by the taxpayer in connection with the
return, or with any other information the department considers
necessary.
(b) Publish lists of taxpayers who are entitled to unclaimed
tax refunds.
(c) Publish statistics so classified as to prevent the
identification of income or any particulars contained in any
report or return.
(d) Disclose a taxpayer's name, address, telephone number,
refund amount, amount due, Social Security number, employer
identification number or other taxpayer identification number to
the extent necessary in connection with collection activities or
the processing and mailing of correspondence or of forms for any
report, return or claim required in the administration of ORS
310.630 to 310.706, any local tax under ORS 305.620, or any law
imposing a tax upon or measured by net income.
(2) The department also may disclose and give access to
information described in ORS 314.835 to:
(a) The Governor of the State of Oregon or the authorized
representative of the Governor:
(A) With respect to an individual who is designated as being
under consideration for appointment or reappointment to an office
or for employment in the office of the Governor. The information
disclosed shall be confined to whether the individual:
(i) Has filed returns with respect to the taxes imposed by ORS
chapter 316 for those of not more than the three immediately
preceding years for which the individual was required to file an
Oregon individual income tax return.
(ii) Has failed to pay any tax within 30 days from the date of
mailing of a deficiency notice or otherwise respond to a
deficiency notice within 30 days of its mailing.
(iii) Has been assessed any penalty under the Oregon personal
income tax laws and the nature of the penalty.
(iv) Has been or is under investigation for possible criminal
offenses under the Oregon personal income tax laws. Information
disclosed pursuant to this paragraph shall be used only for the
purpose of making the appointment, reappointment or decision to
employ or not to employ the individual in the office of the
Governor.
(B) For use by an officer or employee of the Oregon Department
of Administrative Services duly authorized or employed to prepare
revenue estimates, or a person contracting with the Oregon
Department of Administrative Services to prepare revenue
estimates, in the preparation of revenue estimates required for
the Governor's budget under ORS 291.201 to 291.226, or required
for submission to the Emergency Board, or if the Legislative
Assembly is in session, to the Joint Committee on Ways and Means,
and to the Legislative Revenue Officer under ORS 291.342, 291.348
and 291.445. The Department of Revenue shall disclose and give
access to the information described in ORS 314.835 for the
purposes of this subparagraph only if:
(i) The request for information is made in writing, specifies
the purposes for which the request is made and is signed by an
authorized representative of the Oregon Department of
Administrative Services. The form for request for information
shall be prescribed by the Oregon Department of Administrative
Services and approved by the Director of the Department of
Revenue.
(ii) The officer, employee or person receiving the information
does not remove from the premises of the Department of Revenue
any materials that would reveal the identity of a personal or
corporate taxpayer.
(b) The Commissioner of Internal Revenue or authorized
representative, for tax administration and compliance purposes
only.
(c) For tax administration and compliance purposes, the proper
officer or authorized representative of any of the following
entities that has or is governed by a provision of law that meets
the requirements of any applicable provision of the Internal
Revenue Code as to confidentiality:
(A) A state;
(B) A city, county or other political subdivision of a state;
(C) The District of Columbia; or
(D) An association established exclusively to provide services
to federal, state or local taxing authorities.
(d) The Multistate Tax Commission or its authorized
representatives, for tax administration and compliance purposes
only. The Multistate Tax Commission may make the information
available to the Commissioner of Internal Revenue or the proper
officer or authorized representative of any governmental entity
described in and meeting the qualifications of paragraph (c) of
this subsection.
(e) The Attorney General, assistants and employees in the
Department of Justice, or other legal representative of the State
of Oregon, to the extent the department deems disclosure or
access necessary for the performance of the duties of advising or
representing the department pursuant to ORS 180.010 to 180.240
and the tax laws of this state.
(f) Employees of the State of Oregon, other than of the
Department of Revenue or Department of Justice, to the extent the
department deems disclosure or access necessary for such
employees to perform their duties under contracts or agreements
between the department and any other department, agency or
subdivision of the State of Oregon, in the department's
administration of the tax laws.
(g) Other persons, partnerships, corporations and other legal
entities, and their employees, to the extent the department deems
disclosure or access necessary for the performance of such
others' duties under contracts or agreements between the
department and such legal entities, in the department's
administration of the tax laws.
(h) The Legislative Revenue Officer or authorized
representatives upon compliance with ORS 173.850. Such officer or
representative shall not remove from the premises of the
department any materials that would reveal the identity of any
taxpayer or any other person.
(i) The Department of Consumer and Business Services, to the
extent the department requires such information to determine
whether it is appropriate to adjust those workers' compensation
benefits the amount of which is based pursuant to ORS chapter 656
on the amount of wages or earned income received by an
individual.
(j) Any agency of the State of Oregon, or any person, or any
officer or employee of such agency or person to whom disclosure
or access is given by state law and not otherwise referred to in
this section, including but not limited to the Secretary of State
as Auditor of Public Accounts under section 2, Article VI of the
Oregon Constitution; the Department of Human Services pursuant to
ORS 314.860 and 412.094; the Division of Child Support of the
Department of Justice and district attorney regarding cases for
which they are providing support enforcement services under ORS
25.080; the State Board of Tax Practitioners, pursuant to ORS
673.710; and the Oregon Board of Accountancy, pursuant to ORS
673.415.
(k) The Director of the Department of Consumer and Business
Services to determine that a person complies with ORS chapter 656
and the Director of the Employment Department to determine that a
person complies with ORS chapter 657, the following employer
information:
(A) Identification numbers.
(B) Names and addresses.
(C) Inception date as employer.
(D) Nature of business.
(E) Entity changes.
(F) Date of last payroll.
(L) The Director of Human Services to determine that a person
has the ability to pay for care that includes services provided
by the state institutions as described in ORS 179.321 or the
Department of Human Services or to collect any unpaid cost of
care as provided by ORS chapter 179.
(m) Employees of the Employment Department to the extent the
Department of Revenue deems disclosure or access to information
on a combined tax report filed under ORS 316.168 is necessary to
performance of their duties in administering the tax imposed by
ORS chapter 657.
(n) The State Fire Marshal to assist the State Fire Marshal in
carrying out duties, functions and powers under ORS 453.307 to
453.414, the employer or agent name, address, telephone number
and standard industrial classification, if available.
(o) Employees of the { - Department of State Lands - }
{ + office of the State Treasurer + } for the purposes of
identifying, locating and publishing lists of taxpayers entitled
to unclaimed refunds as required by the provisions of
{ - chapter 694, Oregon Laws 1993 - } { + ORS 98.302 to
98.436 + }. The information shall be limited to the taxpayer's
name, address and the refund amount.
(p) In addition to the disclosure allowed under ORS 305.225,
state or local law enforcement agencies to assist in the
investigation or prosecution of the following criminal
activities:
(A) Mail theft of a check, in which case the information that
may be disclosed shall be limited to the stolen document, the
name, address and taxpayer identification number of the payee,
the amount of the check and the date printed on the check.
(B) The counterfeiting, forging or altering of a check
submitted by a taxpayer to the Department of Revenue or issued by
the Department of Revenue to a taxpayer, in which case the
information that may be disclosed shall be limited to the
counterfeit, forged or altered document, the name, address and
taxpayer identification number of the payee, the amount of the
check, the date printed on the check and the altered name and
address.
(q) The United States Postal Inspection Service or a federal
law enforcement agency, including but not limited to the United
States Department of Justice, to assist in the investigation of
the following criminal activities:
(A) Mail theft of a check, in which case the information that
may be disclosed shall be limited to the stolen document, the
name, address and taxpayer identification number of the payee,
the amount of the check and the date printed on the check.
(B) The counterfeiting, forging or altering of a check
submitted by a taxpayer to the Department of Revenue or issued by
the Department of Revenue to a taxpayer, in which case the
information that may be disclosed shall be limited to the
counterfeit, forged or altered document, the name, address and
taxpayer identification number of the payee, the amount of the
check, the date printed on the check and the altered name and
address.
(r) The United States Financial Management Service, for
purposes of facilitating the reciprocal offsets described in ORS
305.612.
(s) A municipal corporation of this state for purposes of
assisting the municipal corporation in the administration of a
tax of the municipal corporation that is imposed on or measured
by income, wages or net earnings from self-employment. Any
disclosure under this paragraph may be made only pursuant to a
written agreement between the Department of Revenue and the
municipal corporation that ensures the confidentiality of the
information disclosed.
(3)(a) Each officer or employee of the department and each
person described or referred to in subsection (2)(a), (e) to (k)
or (m) to (p) of this section to whom disclosure or access to the
tax information is given under subsection (2) of this section or
any other provision of state law, prior to beginning employment
or the performance of duties involving such disclosure or access,
shall be advised in writing of the provisions of ORS 314.835 and
314.991, relating to penalties for the violation of ORS 314.835,
and shall as a condition of employment or performance of duties
execute a certificate for the department, in a form prescribed by
the department, stating in substance that the person has read
these provisions of law, that the person has had them explained
and that the person is aware of the penalties for the violation
of ORS 314.835.
(b) The disclosure authorized in subsection (2)(q) of this
section shall be made only after a written agreement has been
entered into between the Department of Revenue and the person
described in subsection (2)(q) of this section to whom disclosure
or access to the tax information is given, providing that:
(A) Any information described in ORS 314.835 that is received
by the person pursuant to subsection (2)(q) of this section is
confidential information that may not be disclosed, except to the
extent necessary to investigate or prosecute the criminal
activities described in subsection (2)(q) of this section;
(B) The information shall be protected as confidential under
applicable federal and state laws; and
(C) The United States Postal Inspection Service or the federal
law enforcement agency shall give notice to the Department of
Revenue of any request received under the federal Freedom of
Information Act, 5 U.S.C. 552, or other federal law relating to
the disclosure of information.
(4) The Department of Revenue may recover the costs of
furnishing the information described in subsection (2)(k), (L)
and (n) to (p) of this section from the respective agencies.
SECTION 44. ORS 327.405 is amended to read:
327.405. The Common School Fund shall be composed of the
proceeds from the sales of the 16th and 36th sections of every
township or of any lands selected in lieu thereof, all the moneys
and clear proceeds of all property that may accrue to the state
by escheat or forfeiture, the proceeds of all gifts, devises and
bequests made by any person to the state for common school
purposes, the proceeds of all property granted to the state when
the purpose of such grant is not stated, all proceeds of the sale
of submerged and submersible lands as described in ORS 274.005,
all proceeds of the sale of the South Slough National Estuarine
Research Reserve as described in ORS 273.553 in the event such
property is sold, and all proceeds of the sale of the 500,000
acres of land to which this state is entitled by an Act of
Congress approved September 4, 1841, and of all lands selected
for capitol building purposes under Act of Congress approved
February 14, 1859. All such proceeds shall become a part of the
Common School Fund. Except as otherwise provided by law, the
income from the Common School Fund shall be applied exclusively
to the support and maintenance of common schools in each school
district. All lawful claims for repayment of moneys under
{ - the provisions of ORS 98.302 to 98.436 and 98.992, or out of
escheated estates and for attorney fees and all other expenses in
any suit or proceeding relating to escheated estates shall be
audited by the Department of State Lands and paid from the Common
School Fund Account. - } { + ORS 98.302 to 98.436 and 98.992
and for attorney fees related to the claims shall be reviewed by
the State Treasurer and paid from the Unclaimed Property Account.
All lawful claims for repayment of moneys out of escheated
estates and for attorney fees and all other expenses in any suit
or proceeding related to escheated estates shall be reviewed by
the Department of State Lands and paid from the Common School
Fund. + }
SECTION 45. ORS 657.665 is amended to read:
657.665. (1) Except as provided in subsections (2) to (4) of
this section, all information in the records of the Employment
Department pertaining to the administration of the unemployment
insurance, employment service and labor market information
programs:
(a) Is confidential and for the exclusive use and information
of the Director of the Employment Department in administering the
unemployment insurance, employment service and labor market
information programs in Oregon.
(b) May not be used in any court action or in any proceeding
pending in the court unless the director or the state is a party
to the action or proceeding or unless the proceeding concerns the
establishment, enforcement or modification of a support
obligation and support services are being provided by the
Division of Child Support or the district attorney pursuant to
ORS 25.080.
(c) Is exempt from disclosure under ORS 192.410 to 192.505.
(2) The Employment Department shall disclose information:
(a) To any claimant or legal representative, at a hearing
before an administrative law judge, to the extent necessary for
the proper presentation of an unemployment insurance claim.
(b) Upon request to the United States Secretary of Labor. The
Employment Department shall disclose the information in a form
and containing the information that the United States Secretary
of Labor may require. The information disclosed is confidential
and may not be used for any other purpose.
(c) Pursuant to section 303(a)(7) of the Social Security Act,
upon request to any agency of the United States charged with the
administration of public works or assistance through public
employment. Under this paragraph, the Employment Department shall
disclose the name, address, ordinary occupation and employment
status of each recipient of unemployment insurance benefits and a
statement of the recipient's right to further benefits under this
chapter. The information disclosed is confidential and may not be
used for any other purpose.
(d) Pursuant to section 303(c)(1) of the Social Security Act,
to the Railroad Retirement Board. Under this paragraph, the
Employment Department shall disclose unemployment insurance
records. The information disclosed is confidential and may not be
used for any other purpose. The costs of disclosing information
under this paragraph shall be paid by the board.
(e) Pursuant to section 303(d) of the Social Security Act, upon
request to officers and employees of the United States Department
of Agriculture and to officers or employees of any state food
stamp agency for the purpose of determining an individual's
eligibility for or the amount of food stamps. The information
disclosed is confidential and may not be used for any other
purpose. The costs of disclosing information under this paragraph
shall be paid by the United States Department of Agriculture.
(f) Pursuant to section 303(e)(1) and (2)(A)(ii) of the Social
Security Act, to state or local child support enforcement
agencies enforcing child support obligations under Title IV-D of
the Social Security Act for the purposes of establishing child
support obligations, locating individuals owing child support
obligations and collecting child support obligations from those
individuals. The information disclosed is confidential and may
not be used for any other purpose. The costs of disclosing
information under this paragraph shall be paid by the child
support enforcement agency.
(g) Pursuant to sections 303(f) and 1137 of the Social Security
Act, to agencies participating in the income and eligibility
verification system for the purpose of verifying an individual's
eligibility for benefits, or the amount of benefits, under
unemployment insurance, Temporary Assistance for Needy Families,
Medicaid, food stamps, Supplemental Security Income, child
support enforcement or Social Security programs. The information
disclosed is confidential and may not be used for any other
purpose. The costs of disclosing information under this paragraph
shall be paid by the requesting agency.
(h) Pursuant to section 303(h) of the Social Security Act and
section 3304(a)(16)(B) of the Federal Unemployment Tax Act, to
the United States Department of Health and Human Services
National Directory of New Hires. The information disclosed is
confidential and may not be used for any other purpose. The costs
of disclosing information under this paragraph shall be paid by
the United States Department of Health and Human Services.
(i) Pursuant to section 303(i) of the Social Security Act, to
officers and employees of the United States Department of Housing
and Urban Development and to representatives of a public housing
agency for the purpose of determining an individual's eligibility
for benefits, or the amount of benefits, under a housing
assistance program of the United States Department of Housing and
Urban Development. The information disclosed is confidential and
may not be used for any other purpose. The costs of disclosing
information under this paragraph shall be paid by the United
States Department of Housing and Urban Development or the public
housing agency.
(j) Pursuant to regulations of the United States Secretary of
Health and Human Services issued under section 3304(a)(16)(A) of
the Federal Unemployment Tax Act, and except as required by
section 303 of the Social Security Act, to the state, a political
subdivision or a federally recognized Indian tribe that has
signed an agreement with the Department of Human Services to
administer Part A of Title IV of the Social Security Act for the
purpose of determining an individual's eligibility for
assistance, or the amount of assistance, under a program funded
under Part A of Title IV of the Social Security Act. The
information disclosed is confidential and may not be used for any
other purpose.
(k) Upon request, to the United States Attorney's Office.
Under this paragraph, the Employment Department may disclose an
individual's employment and wage information in response to a
federal grand jury subpoena or for the purpose of collecting
civil and criminal judgments, including restitution and special
assessment fees. The information disclosed is confidential and
may not be used for any other purpose. The costs of disclosing
information under this paragraph shall be paid by the United
States Attorney's Office.
(3) The Employment Department may disclose information secured
from employing units:
(a) To agencies of this state, federal agencies and local
government agencies to the extent necessary to properly carry out
governmental planning, performance measurement, program analysis,
socioeconomic analysis and policy analysis functions performed
under applicable law. The information disclosed is confidential
and may not be disclosed by the agencies in any manner that would
identify individuals, claimants, employees or employing units. If
the information disclosed under this paragraph is not prepared
for the use of the Employment Department, the costs of disclosing
the information shall be paid by the agency requesting the
information.
(b) As part of a geographic information system. Points on a map
may be used to represent economic data, including the location,
employment size class and industrial classification of businesses
in Oregon. Information presented as part of a geographic
information system may not give specific details regarding a
business's address, actual employment or proprietary information.
If the information disclosed under this paragraph is not prepared
for the use of the Employment Department, the costs of disclosing
the information shall be paid by the party requesting the
information.
(c) In accordance with ORS 657.673.
(4) The Employment Department may:
(a) Disclose information to public employees in the performance
of their duties under state or federal laws relating to the
payment of unemployment insurance benefits, the provision of
employment services and the provision of labor market
information.
(b) At the discretion of the Director of the Employment
Department and subject to an interagency agreement, disclose
information to public officials in the performance of their
official duties administering or enforcing laws within their
authority and to the agents or contractors of public officials.
The public official shall agree to assume responsibility for
misuse of the information by the official's agent or contractor.
(c) Disclose information pursuant to an informed consent,
received from an employer or claimant, to disclose the
information.
(d) Disclose information to partners under the federal
Workforce Investment Act of 1998 for the purpose of administering
state workforce programs under the Act. The information disclosed
is confidential and may not be used for any other purpose. The
costs of disclosing information under this paragraph shall be
paid by the requesting partner.
(e) Disclose the names and addresses of employing units to the
Bureau of Labor and Industries for the purpose of disseminating
information to employing units. The names and addresses disclosed
are confidential and may not be used for any other purpose. If
the information disclosed under this paragraph is not prepared
for the use of the Employment Department, the costs of disclosing
the information shall be paid by the bureau.
(f) Disclose information to the Commissioner of the Bureau of
Labor and Industries for the purpose of performing duties under
ORS 279C.800 to 279C.870, 658.005 to 658.245 or 658.405 to
658.503 or ORS chapter 652, 653 or 659A. The information
disclosed may include the names and addresses of employers and
employees and payroll data of employers and employees. The
information disclosed is confidential and may not be used for any
other purpose. If the information disclosed under this paragraph
is not prepared for the use of the Employment Department, the
costs of disclosing the information shall be paid by the bureau.
(g) Disclose information required under ORS 657.660 (3) and (4)
to the Public Employees Retirement System for the purpose of
determining the eligibility of members of the retirement system
for disability retirement allowances under ORS chapter 238. The
information disclosed is confidential and may not be used for any
other purpose. The costs of disclosing information under this
paragraph shall be paid by the Public Employees Retirement
System.
(h) Disclose to the Oregon Economic and Community Development
Commission information required by the commission in performing
its duty under ORS 285A.050 to verify changes in employment
levels following direct employer participation in Economic and
Community Development Department programs or indirect
participation through municipalities under ORS 285B.410 to
285B.482 and regional boards and partnerships under ORS 285B.230
to 285B.269. The information disclosed to the commission may
include an employer's employment level, total subject wages
payroll and whole hours worked. The information disclosed is
confidential and may not be used for any other purpose. The
commission may not disclose the information in any manner that
would identify an employing unit or employee except to the extent
necessary to carry out the commission's duty under ORS 285A.050.
If the information disclosed under this paragraph is not prepared
for the use of the Employment Department, the costs of disclosing
the information shall be paid by the commission.
(i) Disclose information to the Department of Revenue for the
purpose of performing its duties under ORS 293.250 or under the
revenue and tax laws of this state. The information disclosed may
include the names and addresses of employers and employees and
payroll data of employers and employees. The information
disclosed is confidential and may not be disclosed by the
Department of Revenue in any manner that would identify an
employing unit or employee except to the extent necessary to
carry out the department's duties under ORS 293.250 or in
auditing or reviewing any report or return required or permitted
to be filed under the revenue and tax laws administered by the
department. The Department of Revenue may not disclose any
information received to any private collection agency or for any
other purpose. If the information disclosed under this paragraph
is not prepared for the use of the Employment Department, the
costs of disclosing the information shall be paid by the
Department of Revenue.
(j) Disclose information to the Department of Consumer and
Business Services for the purpose of performing its duties under
ORS chapters 654 and 656. The information disclosed may include
the name, address, number of employees and industrial
classification code of an employer and payroll data of employers
and employees. The information disclosed is confidential and may
not be disclosed by the Department of Consumer and Business
Services in any manner that would identify an employing unit or
employee except to the extent necessary to carry out the
department's duties under ORS chapters 654 and 656, including
administrative hearings and court proceedings in which the
Department of Consumer and Business Services is a party. If the
information disclosed under this paragraph is not prepared for
the use of the Employment Department, the costs of disclosing the
information shall be paid by the Department of Consumer and
Business Services.
(k) Disclose information to the Construction Contractors Board
for the purpose of performing its duties under ORS chapter 701.
The information disclosed to the board may include the names and
addresses of employers and status of their compliance with this
chapter. If the information disclosed under this paragraph is not
prepared for the use of the Employment Department, the costs of
disclosing the information shall be paid by the board.
(L) Disclose information to the State Fire Marshal to assist
the State Fire Marshal in carrying out duties under ORS 453.307
to 453.414. The information disclosed may include the name,
address, telephone number and industrial classification code of
an employer. The information disclosed is confidential and may
not be disclosed by the State Fire Marshal in any manner that
would identify an employing unit except to the extent necessary
to carry out duties under ORS 453.307 to 453.414. If the
information disclosed under this paragraph is not prepared for
the use of the Employment Department, the costs of disclosing the
information shall be paid by the office of the State Fire
Marshal.
(m) Disclose information to the Oregon Student Assistance
Commission for the purpose of performing the commission's duties
under ORS chapter 348 and Title IV of the Higher Education Act of
1965. The information disclosed may include the names and
addresses of employers and employees and payroll data of
employers and employees. The information disclosed is
confidential and may not be disclosed by the commission in any
manner that would identify an employing unit or employee except
to the extent necessary to carry out the commission's duties
under ORS chapter 348 or Title IV of the Higher Education Act of
1965. If the information disclosed under this paragraph is not
prepared for the use of the Employment Department, the costs of
disclosing the information shall be paid by the commission.
(n) Disclose information to the Department of Transportation to
assist the Department of Transportation in carrying out the
duties of the Department of Transportation relating to collection
of delinquent and liquidated debts, including taxes, under ORS
184.610 to 184.666, 184.670 to 184.733 and 805.263, ORS chapter
319 and the Oregon Vehicle Code. The information disclosed may
include the names and addresses of employers and employees and
payroll data of employers and employees. The information
disclosed is confidential and may not be disclosed by the
Department of Transportation in any manner that would identify an
employing unit or employee except to the extent necessary to
carry out the Department of Transportation's duties relating to
collection of delinquent and liquidated debts or in auditing or
reviewing any report or return required or permitted to be filed
under the revenue and tax laws administered by the Department of
Transportation. The Department of Transportation may not disclose
any information received to any private collection agency or for
any other purpose. If the information disclosed under this
paragraph is not prepared for the use of the Employment
Department, the costs of disclosing the information shall be paid
by the Department of Transportation.
(o) Disclose to any person establishment level information
secured pursuant to this chapter from federal, state and local
government employing units. If the information disclosed under
this paragraph is not prepared for the use of the Employment
Department, the costs of disclosing the information shall be paid
by the party requesting the information.
(p) Disclose to any person the industrial classification code
assigned to an employing unit. If the information disclosed under
this paragraph is not prepared for the use of the Employment
Department, the costs of disclosing the information shall be paid
by the party requesting the information.
{ + (q) Disclose to the State Treasurer the information
required by the State Treasurer for the purpose of performing the
duties of the State Treasurer under ORS 98.302 to 98.436. The
information disclosed may include the name, address and number of
employees of an employing unit and the name and address of
individuals identified in the records of the Employment
Department. The information disclosed is confidential and may not
be disclosed by the State Treasurer for any other purpose. If the
information disclosed under this paragraph is not prepared for
the use of the Employment Department, the costs of disclosing the
information shall be paid by the State Treasurer. + }
(5) Any officer appointed by or any employee of the Director of
the Employment Department who discloses confidential information,
except with the authority of the director, pursuant to rules or
as otherwise required by law, may be disqualified from holding
any appointment or employment with the Employment Department.
(6) Any person or any officer or employee of an entity to whom
information is disclosed by the Employment Department under this
section who divulges or uses the information for any purpose
other than that specified in the provision of law or agreement
authorizing the use or disclosure may be disqualified from
performing any service under contract or disqualified from
holding any appointment or employment with the state agency that
engaged or employed that person, officer or employee. The
Employment Department may immediately cancel or modify any
information sharing agreement with an entity when a person or an
officer or employee of that entity discloses confidential
information, other than as specified in law or agreement.
SECTION 46. ORS 711.225 is amended to read:
711.225. (1) All deposits that remain unclaimed after six
months from the date of the written notice { - mentioned - }
{ + described + } in ORS 711.220 (3) { - , - } shall be
reported and transferred by the Oregon stock bank to the
{ - Department of State Lands - } { + State Treasurer + } as
unclaimed property under ORS 98.302 to 98.436 and 98.992.
(2) A copy of the report of unclaimed deposits filed with the
{ - Department of State Lands - } { + State Treasurer + }
shall be filed with the Director of the Department of Consumer
and Business Services.
SECTION 47. ORS 711.230 is amended to read:
711.230. (1) Claims of all persons, other than depositors,
against the institution shall be presented in writing to the
institution within one year after the date of first publication
provided for in ORS 711.220, unless barred by an earlier period
of limitation. Claims arising out of the expense of liquidation
may be filed at any time prior to the closing of the liquidation.
(2) The board of directors shall, within 30 days after the
presentment of a claim, allow or reject the claim, in whole or in
part, noting the same in their minutes. The board shall notify
the claimants in writing of its action, either by personal
service or by mail. Any claim rejected or disallowed is barred
unless action to adjudicate the claim is commenced within 60 days
after the date of service or mailing of notice of disallowance or
rejection.
(3) The board of directors may extend the time within which to
receive claims and continue the liquidation after the expiration
of the time allowed in this section for the filing of claims. Any
new claims filed after the time shall be allowed and paid or
rejected in the same manner as provided for other claims. If the
liquidation is continued, the transfer of unclaimed deposits to
the { - Department of State Lands - } { + State Treasurer + }
may be delayed to such time as designated by the Director of the
Department of Consumer and Business Services.
SECTION 48. ORS 711.235 is amended to read:
711.235. (1) After the expiration of the time provided in ORS
711.230 for the filing of claims or if the board of directors has
extended the time of liquidation then after the time set by them
and after payment of unclaimed deposits to the { - Department
of State Lands - } { + State Treasurer + }, the board of
directors shall make a complete report of the liquidation to the
Director of the Department of Consumer and Business Services and
shall certify to the director that all claims have been paid or
finally determined.
(2) Any claims received and approved after the report has been
filed with the director shall be paid if the remaining assets are
sufficient.
(3) When the report has been approved by the director the board
of directors may proceed to liquidate the remaining assets and
distribute them to the stockholders or other persons entitled to
receive them according to their respective rights and interests
without further report to the director.
SECTION 49. ORS 711.590 is amended to read:
711.590. (1) Two years after the date of the final order
closing the liquidation of an institution, the Director of the
Department of Consumer and Business Services may withdraw any
unclaimed deposits or balances remaining to the credit of
dividend accounts, representing the aggregate of undelivered
checks or unpaid dividend funds in the possession of the
Department of Consumer and Business Services, and pay the funds
to the
{ - Department of State Lands - } { + State Treasurer + } as
unclaimed property to be disposed of as provided in ORS 98.302 to
98.436 and 98.992.
(2) The interest earned on the dividend accounts while they
remain in the possession of the director shall be paid to the
State Treasurer to be credited to the Consumer and Business
Services Fund and the owner, the heirs or personal representative
of the owner have no claim to the interest.
SECTION 50. ORS 716.905 is amended to read:
716.905. (1) Acting under ORS 716.900 the directors shall
direct the mailing of a written notice of their intention to
close the Oregon nonstock bank to the last-known address of all
depositors and other creditors.
(2) All deposits and amounts reserved for creditors that remain
unclaimed after six months from the date of the written notice
required under subsection (1) of this section shall be reported
and transferred by the directors to the { - Department of State
Lands - } { + State Treasurer + } as unclaimed property under
ORS 98.302 to 98.436 and 98.992.
(3) A copy of the report of unclaimed deposits and amounts
reserved for creditors filed with the { - Department of State
Lands - } { + State Treasurer + } shall be filed with the
Director of the Department of Consumer and Business Services.
SECTION 51. ORS 716.910 is amended to read:
716.910. After the directors of an Oregon nonstock bank have
filed their report and deposited the unclaimed funds with the
{ - Department of State Lands - } { + State Treasurer + } as
required under ORS 716.905, the directors shall report their
proceedings to the Director of the Department of Consumer and
Business Services. Upon filing the report and the petition of the
directors with the Director of the Department of Consumer and
Business Services, the director shall order the charter
surrendered, the directors discharged from liability accruing
after the order, and the existence of the Oregon nonstock bank
terminated.
SECTION 52. { + On July 1, 2011, the State Treasurer shall
transfer all moneys in the Unclaimed Property Revolving Fund to
the Unclaimed Property Account established within the Common
School Fund by ORS 98.388, as amended by section 23 of this 2009
Act. + }
SECTION 53. { + (1) Sections 1 to 8 of this 2009 Act and the
amendments to ORS 60.674, 62.720, 98.050, 98.302, 98.329, 98.348,
98.352, 98.353, 98.354, 98.356, 98.362, 98.366, 98.372, 98.376,
98.382, 98.384, 98.386, 98.388, 98.392, 98.396, 98.402, 98.412,
98.416, 98.422, 98.424, 98.991, 98.992, 178.065, 183.635,
273.105, 287A.474, 293.450, 293.455, 293.460, 314.840, 327.405,
657.665, 711.225, 711.230, 711.235, 711.590, 716.905 and 716.910
by sections 9 to 51 of this 2009 Act are intended to transfer the
responsibility for administering the Uniform Disposition of
Unclaimed Property Act from the Department of State Lands to the
State Treasurer.
(2) For the purpose of harmonizing and clarifying statute
sections published in Oregon Revised Statutes, the Legislative
Counsel may substitute for words designating the 'Department of
State Lands' or the 'Director of the Department of State Lands,'
wherever they occur in Oregon Revised Statutes in relation to the
Uniform Disposition of Unclaimed Property Act, other words
designating the 'State Treasurer.' + }
SECTION 54. { + (1) Sections 1 to 8 of this 2009 Act and the
amendments to ORS 60.674, 62.720, 98.050, 98.302, 98.329, 98.348,
98.352, 98.353, 98.354, 98.356, 98.362, 98.366, 98.372, 98.376,
98.382, 98.384, 98.386, 98.388, 98.392, 98.396, 98.402, 98.412,
98.416, 98.422, 98.424, 98.991, 98.992, 178.065, 183.635,
273.105, 287A.474, 293.450, 293.455, 293.460, 314.840, 327.405,
657.665, 711.225, 711.230, 711.235, 711.590, 716.905 and 716.910
by sections 9 to 51 of this 2009 Act become operative on July 1,
2011.
(2) Notwithstanding subsection (1) of this section, the State
Treasurer and the Department of State Lands may take any action
necessary after the effective date of this 2009 Act to exercise,
on and after July 1, 2011, the duties, functions and powers
transferred to the State Treasurer by section 1 of this 2009 Act.
(3) The Department of State Lands may reimburse the State
Treasurer for expenses incurred between the effective date of
this 2009 Act and July 1, 2011, related to the transfer of
duties, functions and powers under this 2009 Act. + }
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