2021 Oregon Revised Statutes
Chapter 708A - Regulation of Institutions Generally
Section 708A.430 - Disposition of deposit on death of depositor.

(a) The surviving spouse at the surviving spouse’s demand at any time after the depositor’s death;
(b) The Oregon Health Authority or the Department of Human Services, if the authority or the department demands the payment not less than 46 days and no more than 75 days after the death of the depositor if the depositor does not have a surviving spouse and if the authority or department has a preferred claim under ORS 411.708, 411.795 or 416.350;
(c) The depositor’s surviving children 18 years of age or older, if the depositor does not have a surviving spouse and the authority and department do not have a claim;
(d) The depositor’s surviving parent, if the depositor does not have a surviving spouse or surviving child 18 years of age or older and if the authority and department do not have a claim;
(e) The depositor’s surviving brothers and sisters 18 years of age or older, if the depositor does not have a surviving spouse, surviving child 18 years of age or older or surviving parent and the authority and department do not have a claim; or
(f) Any other surviving heir of the depositor, if there is no surviving spouse, authority claim, department claim, surviving child 18 years of age or older, surviving parent or surviving brothers or sisters 18 years of age or older.
(2)(a) An insured institution may not pay moneys on deposit under subsection (1)(c) to (f) of this section earlier than 46 days after the death of the depositor.
(b) An insured institution may not pay moneys on deposit under subsection (1)(c) to (f) of this section earlier than 76 days after the death of the depositor unless the financial institution obtains prior verbal or written authorization from the Oregon Health Authority or its designated representative and the Department of Human Services or its designated representative.
(3) An affidavit or declaration submitted under this section must:
(a) State where and when the depositor died;
(b) State that the total deposits of the deceased depositor in all financial institutions in Oregon do not exceed $25,000;
(c) Show the relationship of the affiant or declarant to the deceased depositor; and
(d) Embody a promise to pay the expenses of last sickness, funeral expenses and just debts of the deceased depositor out of the deposit to the full extent of the deposit if necessary, in the order of priority prescribed by ORS 115.125, and to distribute any remaining moneys to the persons that are entitled to the moneys by law.
(4) An insured institution shall accept from the Department of Human Services or the Oregon Health Authority, without additional requirements, a declaration under penalty of perjury meeting the requirements of subsection (3) of this section. A declaration submitted under this section must be signed by the declarant and must include the following sentence immediately above the signature line of the declarant: "I hereby declare under penalty of perjury that I am authorized by the Department of Human Services or the Oregon Health Authority to make this declaration, that the above statement is true to the best of my knowledge and belief, and that I understand that it is subject to penalty for perjury."
(5) In the event the depositor died intestate without known heirs, an estate administrator of the State Treasurer appointed under ORS 113.235 is the affiant and shall receive the moneys for deposit into the Unclaimed Property and Estates Fund as escheated property and subject to claims under ORS 116.253.
(6) The insured institution shall determine the relationship of the affiant or declarant to the deceased depositor, but paying the moneys in good faith to the affiant or declarant discharges and releases the insured institution from any liability or responsibility for the transfer in the same manner and with the same effect as if the insured institution transferred, delivered or paid the moneys to a personal representative of the estate of the deceased depositor.
(7) A probate proceeding is not necessary to establish the right of the surviving spouse, Oregon Health Authority, Department of Human Services, surviving child, surviving parent, surviving brothers and sisters or an estate administrator of the State Treasurer to withdraw the deposits after filing the affidavit or declaration. If a personal representative is appointed in an estate where a withdrawal of deposits was made under this section, the person that withdraws the deposits shall account for the deposits to the personal representative.
(8) If an insured institution transfers moneys under subsection (1) of this section, the insured institution may require the transferee to furnish the insured institution with a written indemnity agreement that indemnifies the insured institution against loss for moneys the insured institution transferred to the extent of the amount of the deposit.
(9)(a) Moneys disbursed to the Department of Human Services under subsection (1) of this section may be made payable only to the department.
(b) Moneys disbursed to the Oregon Health Authority under subsection (1) of this section may be made payable only to the authority.
(10) This section is subject to the rights of other parties in the account under ORS 708A.455 to 708A.515. [1997 c.631 §167; 2003 c.395 §20; 2005 c.381 §26; 2007 c.369 §1; 2009 c.595 §1113; 2011 c.720 §217; 2015 c.244 §49; 2017 c.51 §1; 2019 c.678 §69; 2021 c.424 §24]

Structure 2021 Oregon Revised Statutes