ORS 98.319
U.S. savings bonds presumed abandoned

  • escheat proceedings

(1)

As used in this section, “U.S. savings bonds” or “bonds” means:

(a)

U.S. savings bonds, series A, B, C, D, E, F, G, H, J and K, and U.S. savings notes, governed by 31 C.F.R. 315;

(b)

Definitive United States savings bonds, series EE and HH, governed by 31 C.F.R. 353; and

(c)

Definitive United States savings bonds, series I, governed by 31 C.F.R. 360.

(2)

Notwithstanding any other provision of law, U.S. savings bonds subject to the custody of the State of Oregon as unclaimed property shall escheat to the state in accordance with this section.

(3)

The holder of U.S. savings bonds presumed abandoned under ORS 98.302 (Definitions for ORS 98.302 to 98.436) to 98.436 (Short title) shall report, and deliver possession of, the bonds to the State Treasurer.

(4)

After obtaining possession of the U.S. savings bonds under subsection (3) of this section, the State Treasurer shall cause:

(a)

Each person listed on the face of the bonds, each apparent owner of the bonds and each person otherwise appearing to be an owner of the bonds to be contacted at the last-known address of the person; and

(b)

Notice of the bonds to be published of the bonds in such form as in the discretion of the State Treasurer is most likely to attract the attention of all persons having a legal or beneficial interest in the bonds.

(5)

The notice required under subsection (4)(b) of this section must contain the following information:

(a)

The name of each person described in subsection (4)(a) of this section;

(b)

The last-known address or location of each person described in subsection (4)(a) of this section, if known by the State Treasurer;

(c)

A statement explaining that the U.S. savings bonds are presumed to be abandoned and have been taken into the protective custody and possession of the State Treasurer;

(d)

A statement that information about the U.S. savings bonds can be obtained upon inquiry to the State Treasurer at any time by any person having a legal or beneficial interest in the bonds;

(e)

A statement that a claim for the U.S. savings bonds may be made under ORS 98.392 (Claiming unclaimed property) and 98.396 (Determination of claim);

(f)

A description of the escheat proceedings under this section; and

(g)

Any other information the State Treasurer considers appropriate or necessary to locate all persons having a legal or beneficial interest in the bonds.

(6)

The State Treasurer shall create and maintain on the official website of the State Treasurer a webpage on which the public may obtain information about U.S. savings bonds in the custody and possession of the State Treasurer as unclaimed property.

(7)

If no person has been identified as the owner of U.S. savings bonds within three years after the first public notice provided under subsection (4)(b) of this section with respect to the bonds:

(a)

Title to the bonds shall vest in the State of Oregon; and

(b)

The State Treasurer may seek an order from the Marion County Circuit Court escheating the bonds to the State of Oregon.

(8)

The Marion County Circuit Court shall issue an order escheating U.S. savings bonds to the State of Oregon if the court determines that:

(a)

With respect to the bonds, all provisions of this section have been complied with; and

(b)

The bonds:

(A)

Have, within the meaning of the applicable federal regulations, reached the final extended maturity date or the final maturity, or have stopped earning interest;

(B)

Are in the possession of the state; and

(C)

Have been abandoned by all persons entitled to payment for the bonds under the applicable federal regulations.

(9)

Intentionally left blank —Ed.

(a)

Upon issuance of an order of escheat with respect to U.S. savings bonds, the State Treasurer may apply to the United States Treasury for payment to the state for the bonds.

(b)

ORS 98.386 (Deposit of funds) applies to any payments received by the state pursuant to this subsection.

(10)

This section does not apply to a claim of title by the state to U.S. savings bonds as heir to a deceased owner. [2018 c.95 §2; 2019 c.678 §80]
Note: 98.319 (U.S. savings bonds presumed abandoned) was added to and made a part of 98.302 (Definitions for ORS 98.302 to 98.436) to 98.436 (Short title) by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.

Source: Section 98.319 — U.S. savings bonds presumed abandoned; escheat proceedings, https://www.­oregonlegislature.­gov/bills_laws/ors/ors098.­html.

98.005
Rights and duties of finder of money or goods 98.015
Liability of noncomplying finder 98.025
Rights of owner 98.045
Applicability to unclaimed prepaid transportation cards 98.050
Finder’s reports 98.110
Record to be kept by consignee or bailee of property 98.120
Notice to owner of receipt of property by consignee or bailee 98.130
Right of custodian to sell property 98.140
Notice of sale 98.150
Affidavit by custodian when no response to notice 98.160
Inventory and order to sell 98.170
Sale 98.180
Delivery of proceeds to justice 98.190
Disposal of proceeds by justice 98.200
Procedure by county treasurer 98.210
Payment to person proving ownership 98.230
Sale of perishable property 98.240
Fees allowed to justice of peace and constable or sheriff 98.245
Disposition of unclaimed property 98.302
Definitions for ORS 98.302 to 98.436 98.304
Intangible property subject to custody of state 98.308
Intangible property held by financial institution 98.309
Traveler’s check or money order presumed abandoned 98.311
Service charge on unclaimed property 98.314
Unclaimed funds held by insurance companies 98.316
Deposits and refunds held by utilities 98.319
U.S. savings bonds presumed abandoned 98.322
Intangible equity ownership interests in business associations 98.326
Property of business associations or financial institutions held in the course of dissolution 98.328
Property held in safe deposit box 98.329
Delivery of property before presumed abandoned 98.332
Property held by fiduciaries 98.334
Unpaid wages unclaimed by owner 98.336
Property held by government and public authorities 98.338
Credit memo unclaimed by owner 98.342
Miscellaneous personal property held for another person 98.346
Reciprocity for property presumed abandoned or escheated under the laws of another state 98.348
Recovery of abandoned property by another state 98.352
Report of abandoned property 98.353
Information on filing report 98.354
Records of ownership or issuance of instruments to be maintained 98.356
Notice and publication of lists of unclaimed property 98.362
Delivery of certificate of ownership of intangible equity ownership interest 98.366
Relief from liability by payment or delivery 98.372
Income accruing after payment or delivery 98.376
Periods of limitation not a bar 98.379
Retention of abandoned military medals 98.382
Sale of abandoned and unclaimed property 98.384
Destruction or disposition of unclaimed property 98.386
Deposit of funds 98.389
Unclaimed Property and Estates Fund 98.392
Claiming unclaimed property 98.396
Determination of claim 98.402
Hearing on claim 98.412
Verified report 98.416
Proceeding to compel delivery of unclaimed property 98.422
Rules 98.424
Agreements with other states 98.432
Uniformity of interpretation 98.436
Short title 98.450
Unordered goods presumed gifts 98.470
Definitions for ORS 98.470 to 98.490 98.475
Molder may take title to unclaimed mold 98.480
Notice to customer 98.485
Duty to make mold unusable when title not taken 98.490
Effect of written agreement between molder and customer 98.515
Unauthorized appropriation of shopping carts 98.520
Notice of crime of unauthorized appropriation of shopping carts 98.640
Owner’s duty to remove trees, logs, poles or piling deposited on state highways 98.642
Effect of failure to remove trees, logs, poles or piling 98.644
ORS 98.640 and 98.642 inapplicable to certain trees, logs, poles or piling 98.650
Owner’s duty to remove trees, logs, poles or piling deposited on county roads 98.652
Effect of failure to remove trees, logs, poles or piling 98.654
ORS 98.650 and 98.652 inapplicable to certain trees, logs, poles or piling and to certain county roads 98.805
Definitions for ORS 98.810 to 98.818, 98.830 and 98.840 98.810
Unauthorized parking of vehicle on proscribed property prohibited 98.811
Notice of parking violation 98.812
Towing of unlawfully parked vehicle 98.818
Preference of lien 98.820
Towing vehicle from fuel dispensary premises 98.830
Towing abandoned vehicle from private property 98.840
Towing vehicle alternative to procedure in ORS 98.810 to 98.818 98.850
Legislative findings and declaration 98.852
Definitions for ORS 98.853 to 98.862 98.853
Conditions allowing towing 98.854
Prohibitions placed on tower 98.856
Tower responsibility of disclosure to owner or operator of vehicle 98.857
Recovery of stolen vehicle 98.858
Right of owner or person in lawful possession of vehicle to redeem or inspect vehicle, contact tower and obtain property of emergency nature 98.859
Maximum rates for towing 98.860
Conditions for release of vehicle to insurance company undertaking to adjust claim 98.861
Licenses for towing 98.862
Exceptions to requirements of ORS 98.856 98.991
Penalties relating to unclaimed property 98.992
Penalty for failure to report, pay or deliver property under ORS 98.302 to 98.436
Green check means up to date. Up to date

Current through early 2024

§ 98.319’s source at oregon​.gov