Read the full stored bill text
ENGR. H. B. NO. 4311 Page 1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
ENGROSSED HOUSE
BILL NO. 4311 By: Blair of the House
and
Daniels of the Senate
An Act relating to property; amending 60 O.S. 2021,
Section 668, as last amended by Section 3, Chapter
421, O.S.L. 2025 (60 O.S. Supp. 2025, Section 668),
which relates to the Unclaimed Property Act;
increasing percentage amount related to service
charges; providing an effective date; and declaring
an emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 60 O.S. 2021, Section 668, as last
amended by Section 3, Chapter 421, O.S.L. 2025 (60 O.S. Supp. 2025,
Section 668), is amended to read as follows:
Section 668. A. There is hereby created in the State Treasury
the "Unclaimed Property Fund", the principal of which shall
constitute a trust fund for persons claiming any interest in any
property delivered to the state under the Uniform Unclaimed Property
Act and may be invested as provided in the Uniform Unclaimed
Property Act and shall not be expended except as provided in the
Uniform Unclaimed Property Act. All funds received under the
Uniform Unclaimed Property Act, including the proceeds from the sale
of abandoned property under Section 667 of this title, shall
ENGR. H. B. NO. 4311 Page 2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
forthwith be deposited by the State Treasurer in the Unclaimed
Property Fund, except that the State Treasurer may before making any
deposit to the fund deduct:
1. All costs in connection with the sale of abandoned property;
2. All costs of mailing and publication in connection with any
abandoned property including the cost of custody services for
unclaimed securities;
3. Reasonable service charges not to exceed four percent (4%)
six percent (6%) of the monies accruing to the state under the
Uniform Unclaimed Property Act, which may be used to defray the
administrative costs, including costs necessary to retain legal
counsel to ensure compliance with the Uniform Unclaimed Property
Act, or to acquire computer hardware and software to be used
exclusively to help administer the unclaimed property program;
4. An amount equal to fifteen percent (15%) of the funds
accruing to the state pursuant to a contract with the State
Treasurer providing information leading to the delivery of unclaimed
property held by a holder to the State Treasurer to be deposited in
the Unclaimed Property Clearinghouse Fund; and
5. An amount not to exceed twenty-five percent (25%) of the
value of the funds in an action to enforce the Uniform Unclaimed
Property Act, which is to be used solely to pay attorney fees to any
person who was authorized by the State Treasurer to bring the
action.
ENGR. H. B. NO. 4311 Page 3
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
B. Before making a deposit to the Unclaimed Property Fund, the
State Treasurer shall record the name, last-known address of each
person appearing from the holders' reports, property type, unclaimed
property identification code, relation code, date of last activity,
reported year, holder name, amount, number of shares of securities,
and name of the securities issuer or stock ticker symbol to be
entitled to the abandoned property and of 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. After a period of twelve (12) months has elapsed, the record
shall be available for public inspection during normal business
hours.
SECTION 2. This act shall become effective July 1, 2026.
SECTION 3. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
ENGR. H. B. NO. 4311 Page 4
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Passed the House of Representatives the 26th day of March, 2026.
Presiding Officer of the House
of Representatives
Passed the Senate the ___ day of __________, 2026.
Presiding Officer of the Senate