2007 Regular Session
|At the request of:||(at the request of Governor Theodore R. Kulongoski for Department of State Lands)|
|Regular Sponsors:||(Presession Filed)|
|Bill Title:||Relating to reporting requirements for certain unclaimed property.|
|Catchline/Summary:||Reduces dormancy period from five years to three years for unclaimed property held by financial institutions, insurance companies and intangible equity ownership interests.
Changes requirement that holder of unclaimed property provide notice by certified mail to notice by first class mail prior to imposing service charges, ceasing payment of interest or levying fees. Specifies conditions by which owner of property shall be deemed to have consented to renewal of property upon expiration of initial time period.
|Fiscal Impact:||Fiscal Impact Issued|
|Revenue Impact:||Revenue Impact Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|