SECTION 735:80-3-5. Abandoned mineral interests; reporting requirements

  Regardless of the amount of the mineral interest proceeds, if the proceeds are presumed unclaimed under the Uniform Unclaimed Property Act, or under the Unclaimed Property Laws of any other State, the mineral interest that generated such proceeds is also presumed abandoned and shall become reportable to OST. It is also required that the names of last-known owners of mineral interest, their percentages of ownership in the interest, and the legal description of the mineral interest be reported to OST. Annually, OST shall send the abandoned mineral interest listing to the Office of the Attorney General, and the District Attorney and County Clerk of the county in which the mineral interest is located. The abandoned mineral listings will be made available for public viewing by the County Clerks.

[Source: Transferred from 710:80-3-5 at 60 O.S., § 688, eff 7-1-99 (see Editor’s Notice published at 17 Ok Reg 217); Amended at 17 Ok Reg 2167, eff 6-12-00]