Ask Reggi Your Question Now
Can you summarize ORAR 170-145?
Oregon State Treasury > ADMINISTRATION OF UNCLAIMED PROPERTY
Short Summary
The provided legal document content pertains to the administration of unclaimed property in Oregon. It outlines the procedures and requirements for holders of unclaimed property to report and remit the property to the Treasurer in an accurate and timely manner. The document emphasizes the importance of exercising due diligence to locate the owner of the property and notifying them of the process for claiming the property. It also governs the electronic submission of reports through the Unclaimed Property Portal, with the option for holders to request permission to submit a hard-copy report. The document further addresses the imposition of service charges and the payment of interest on dormant or inactive accounts, specifying the conditions under which such charges or changes in policy can be applied. It also outlines the process for reimbursement of holders who have made payments or errors when remitting property to the Treasurer. Additionally, the document covers holder examinations conducted by the Oregon State Treasury, requiring holders to provide all necessary records for compliance assessment. It also governs the maintenance, retention, and disclosure of records related to unclaimed property, with certain restrictions on releasing lists of records within specific timeframes. The document provides provisions for collaborative dispute resolution between holders and the Treasurer, as well as the process for filing a request for a contested case hearing when disagreements arise. Lastly, it outlines the Voluntary Disclosure Program, allowing holders to come into compliance with reporting and delivery requirements without penalty, subject to certain criteria and obligations. The documents apply to holders of unclaimed property in Oregon, the Treasurer, and individuals or entities involved in transactions or disputes related to unclaimed property. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Holders of unclaimed property in Oregon
What does it govern?
Administration of unclaimed property
What are exemptions?
No specific exemptions are mentioned in this document.
What are the Penalties?
No specific penalties are mentioned in this document.
Jurisdiction
Oregon