This bill amends the Unclaimed Property Act in Oklahoma, specifically modifying Section 668 of Title 60. The key change involves increasing the reasonable service charges that the State Treasurer can deduct from the funds accruing to the state under the Act from four percent (4%) to six percent (6%). These charges are intended to cover administrative costs, including legal counsel and necessary computer hardware and software for managing the unclaimed property program. The bill also outlines the procedures for the State Treasurer to record and maintain information related to unclaimed property before making deposits into the Unclaimed Property Fund.

The bill is set to take effect on July 1, 2026, and includes an emergency clause, indicating that it is necessary for the preservation of public peace, health, or safety, allowing it to be enacted immediately upon passage and approval.

Statutes affected:
Introduced: 60-668