Lost, Unclaimed or Abandoned Property

ORS 98.311
Service charge on unclaimed property

Notwithstanding the provisions in ORS 98.308 (Intangible property held by financial institution), a holder may not deduct a service charge or fee or otherwise reduce an owner’s unclaimed account unless:

(1)

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

(2)

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

(3)

Three months’ written notice is given by first class mail to the last-known address of all owners before the charge or fee is levied. [1993 c.694 §45; 2007 c.539 §2]
§§ 98.302 to 98.436

Atty. Gen. Opinions

Necessity of probate if abandoned property is claimed by heirs, (1972) Vol 35, p 1177

Source

Last accessed
Jun. 26, 2021

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