(b) In choosing the most favorable method for the sale of property under this subsection, the State Treasurer may consider:
(A) A public oral auction;
(B) An electronic commerce forum; and
(C) Any other method for sale that ensures the highest returns and provides for open, public participation.
(c) In choosing the most favorable location for the sale of property under this subsection, the State Treasurer may consider:
(A) The population of the location;
(B) The cost of conducting the sale in the location;
(C) The type of property being sold;
(D) The public access to the proposed sale location, including parking; and
(E) Any other indicator of market potential of the location.
(2) For a sale by public oral auction held under subsection (1) of this section, the State Treasurer shall publish at least a single notice of the sale at least 10 days in advance of the sale in a newspaper of general circulation in the county where the property is to be sold. For a sale by a method other than public oral auction, the State Treasurer shall publish at least a single notice in a newspaper of general circulation in Marion County.
(3) Securities listed on an established stock exchange shall be sold on the exchange at prices prevailing on the exchange at the time of sale. Other securities may be sold over the counter at prices prevailing at the time of sale or by any other method the State Treasurer considers advisable.
(4) The State Treasurer shall sell all securities and other intangible properties presumed abandoned and received under ORS 98.362 at such time and place and in such manner as the State Treasurer determines will bring the highest return.
(5) The State Treasurer shall indemnify the holder of securities presumed abandoned under ORS 98.322 to the extent allowed by the Oregon Constitution. The State Treasurer shall establish procedures by administrative rule to pay the rightful owner proceeds received from securities that were sold before the owner filed a claim to recover such securities.
(6) The purchaser at a sale conducted by the State Treasurer pursuant to this section shall receive title to the property purchased, free from all claims of the owner or prior holder of the property and of all persons claiming through or under them. The State Treasurer shall execute all documents necessary to complete the transfer of title. [1957 c.670 §19; 1983 c.716 §15; 1993 c.694 §13; 2003 c.272 §4; 2019 c.678 §18]
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.