OAR 141-040-0020


“Agent” means a person who is filing a claim to recover unclaimed property on behalf of a claimant.
(2) “Claimant” means a person or entity claiming to be the rightful owner, or a person claiming to be legally authorized to act on behalf of a person or entity claiming to be the rightful owner, and claiming to be legally entitled to unclaimed property held by the Department.
(3) “Department” means the Department of State Lands.
(4) “Entity” includes a domestic or foreign limited liability company, corporation, professional corporation, foreign corporation, domestic or foreign nonprofit corporation, domestic or foreign cooperative corporation, profit or nonprofit unincorporated association, business trust, domestic or foreign general or limited partnership, or trust.
(5) “Escheat property” means property paid or delivered to the Department because the distributee, devisee, or heir could not be found, or refused to accept the property.
(6) “Finder” means any person who independently searches for and finds the owners of unclaimed or escheat property for a fee paid by the owner.
(7) “Finder’s Report of Unclaimed or Escheat Property” means a report that lists the names of owners of unclaimed or escheat property in the custody of the Department, and may include additional information that would assist in finding the owners.
(8) “Governmental Entity” means the federal government, the state, any agency or political subdivision of the state or federal government, or any unit of local government.
(9) “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.
(10) “Military Medal” means a medal or decoration awarded to a service member for military service.
(11) “Owner” means a depositor in case of a deposit, a beneficiary in case of a trust other than a deposit in trust, a creditor, claimant, or payee in case of other intangible property, or a person, or the person’s legal representative, having a legal or equitable interest in property.
(12) “Reporting Date” means the date the safe deposit box contents are received by the Department.
(13) “Unclaimed Property” means any asset that is paid or delivered to the Department pursuant to ORS 98.352 (Report of abandoned property) because the owner cannot be found by the company or person holding the asset.
Last Updated

Jun. 8, 2021

Rule 141-040-0020’s source at or​.us