(a) The interest is evidenced by records of the business association.
(b) A dividend, distribution or other sum payable as a result of the interest has remained unclaimed for three years.
(c) The owner has not otherwise communicated with the business association for three years from the date the sum was payable.
(d) The business association has sent written notice of the payment and underlying interest to the owner at the last-known address of the owner as shown in the records of the business association.
(2) With respect to any interest presumed abandoned under subsection (1) of this section, the business association is the holder.
(3) At the time an interest is presumed abandoned under subsection (1) of this section, any payment then held for or owing to the owner as a result of the interest is also presumed abandoned.
(4) Subsection (1) of this section shall not apply to any stock, certificate of ownership or other intangible equity ownership interests in a business association that provides for the automatic reinvestment of dividends, distributions or other sums payable as a result of the interests, unless:
(a) The records of the business association show that the person also owns any stock, certificate of ownership or other intangible equity ownership interest in the business association that is not enrolled in the reinvestment plan; and
(b) The interest referred to in paragraph (a) of this subsection has been presumed abandoned under subsection (1) of this section.
(5) Any dividend, profit distribution, interest, payment on principal or other sum held or owing by a business association is presumed abandoned if, within three years after the date prescribed for payment, all of the following have occurred:
(a) The owner has not claimed the payment or corresponded in writing with the business association concerning the payment.
(b) The business association has sent written notice of the payment to the owner at the last-known address of the owner as shown in the records of the business association. [1957 c.670 §7; 1983 c.716 §3; 1985 c.408 §1; 2007 c.539 §4]
Structure 2021 Oregon Revised Statutes
Volume : 03 - Landlord-Tenant, Domestic Relations, Probate
Chapter 098 - Lost, Unclaimed or Abandoned Property; Vehicle Towing
Section 98.005 - Rights and duties of finder of money or goods.
Section 98.045 - Applicability to unclaimed prepaid transportation cards.
Section 98.050 - Finder’s reports; rules; fee.
Section 98.245 - Disposition of unclaimed property; notice of pending disposition; procedure.
Section 98.302 - Definitions for ORS 98.302 to 98.436.
Section 98.304 - Intangible property subject to custody of state.
Section 98.308 - Intangible property held by financial institution.
Section 98.309 - Traveler’s check or money order presumed abandoned.
Section 98.311 - Service charge on unclaimed property.
Section 98.314 - Unclaimed funds held by insurance companies.
Section 98.316 - Deposits and refunds held by utilities.
Section 98.319 - U.S. savings bonds presumed abandoned; escheat proceedings.
Section 98.322 - Intangible equity ownership interests in business associations.
Section 98.329 - Delivery of property before presumed abandoned; rules.
Section 98.332 - Property held by fiduciaries.
Section 98.336 - Property held by government and public authorities.
Section 98.338 - Credit memo unclaimed by owner.
Section 98.342 - Miscellaneous personal property held for another person.
Section 98.352 - Report of abandoned property.
Section 98.353 - Information on filing report.
Section 98.354 - Records of ownership or issuance of instruments to be maintained.
Section 98.356 - Notice and publication of lists of unclaimed property; rules.
Section 98.362 - Delivery of certificate of ownership of intangible equity ownership interest.
Section 98.366 - Relief from liability by payment or delivery.
Section 98.379 - Retention of abandoned military medals; transfer of custody; rules.
Section 98.382 - Sale of abandoned and unclaimed property; methods; rules.
Section 98.386 - Deposit of funds.
Section 98.389 - Unclaimed Property and Estates Fund; transfers from fund.
Section 98.392 - Claiming unclaimed property; lawyer trust account funds; rules.
Section 98.396 - Determination of claim; payment; reimbursement.
Section 98.402 - Hearing on claim; petition to compel action.
Section 98.412 - Verified report; examination of records; failure to maintain records.
Section 98.416 - Proceeding to compel delivery of unclaimed property; interest.
Section 98.432 - Uniformity of interpretation.
Section 98.450 - Unordered goods presumed gifts.
Section 98.470 - Definitions for ORS 98.470 to 98.490.
Section 98.480 - Notice to customer; contents.
Section 98.515 - Unauthorized appropriation of shopping carts.
Section 98.640 - Owner’s duty to remove trees, logs, poles or piling deposited on state highways.
Section 98.650 - Owner’s duty to remove trees, logs, poles or piling deposited on county roads.
Section 98.805 - Definitions for ORS 98.810 to 98.818, 98.830 and 98.840.
Section 98.810 - Unauthorized parking of vehicle on proscribed property prohibited.
Section 98.811 - Notice of parking violation; certificate of nonliability; dismissal of notice.
Section 98.820 - Towing vehicle from fuel dispensary premises; civil immunity; lien.
Section 98.830 - Towing abandoned vehicle from private property; civil immunity; lien.
Section 98.850 - Legislative findings and declaration.
Section 98.852 - Definitions for ORS 98.853 to 98.862.
Section 98.853 - Conditions allowing towing; conditions requiring release of vehicle.
Section 98.854 - Prohibitions placed on tower.
Section 98.856 - Tower responsibility of disclosure to owner or operator of vehicle.
Section 98.857 - Recovery of stolen vehicle; tower responsibility to notify owner.
Section 98.859 - Maximum rates for towing; process for complaints; exceptions.
Section 98.861 - Licenses for towing; fees.