ORS 98.386
Deposit of funds

(1)

Except as provided in subsection (2) of this section, all funds received under ORS 98.302 (Definitions for ORS 98.302 to 98.436) to 98.436 (Short title) and 98.992 (Penalty for failure to report, pay or deliver property under ORS 98.302 to 98.436), including the proceeds from the sale of unclaimed property under ORS 98.382 (Sale of abandoned and unclaimed property), shall be deposited by the State Treasurer in the Unclaimed Property and Estates Fund. Before making the deposit, the 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)

Any amounts identified as lawyer trust account funds in the report required by ORS 98.352 (Report of abandoned property) shall be paid or delivered by the holder to the Oregon State Bar along with a copy of the report. All amounts paid or delivered to the Oregon State Bar under this section are continuously appropriated to the Oregon State Bar and may be used only for the funding of legal services provided through the Legal Services Program established under ORS 9.572 (Bar to establish Legal Services Program), the payment of claims allowed under ORS 98.392 (Claiming unclaimed property) (2) and the payment of expenses incurred by the Oregon State Bar in the administration of the Legal Services Program.

(3)

Before making a deposit to the credit of the Unclaimed Property and Estates Fund, the State Treasurer may deduct:

(a)

Any costs in connection with sale of unclaimed property;

(b)

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

(c)

Reasonable service charges. [1957 c.670 §20; 1983 c.716 §16; 1989 c.183 §2; 1993 c.694 §15; 2009 c.462 §2; 2019 c.678 §20; 2021 c.424 §11]

Source: Section 98.386 — Deposit of funds, https://www.­oregonlegislature.­gov/bills_laws/ors/ors098.­html.

Attorney General Opinions

Implied authority to sell abandoned stock through a broker, (1971) Vol 35, p 993

Law Review Citations

27 WLR 757

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

§ 98.386’s source at oregon​.gov