SB 999: Property; modifying provisions of the Uniform Unclaimed Property Act. Effective date. - Oklahoma

Floor (House) → Floor (Senate) · 3 edits

MINOR

This bill amends Oklahoma's Uniform Unclaimed Property Act by reorganizing and clarifying key definitions used throughout the statute. The changes primarily involve renumbering and consolidating definitions for terms like 'Apparent owner', 'Claimant', 'Holder', and various property types to improve clarity and consistency. These technical updates help ensure the law is easier to understand and apply when determining who owns unclaimed property and how it should be handled.

Scope change

No substantive change to the scope or applicability of the law; changes are primarily definitional and organizational

DEFINITION

Reorganized and renumbered definitions in Section 651 for terms including 'Apparent owner', 'Attorney General', 'Banking organization', 'Business association', 'Claimant', 'Claimant's representative', 'Domicile', 'Financial organization', 'Holder', 'Insurance company', 'Intangible property', 'Last-known address', 'Memorandum', 'Mineral proceeds', 'Museum', 'Owner', 'Person', 'State', 'State Treasurer', 'Tax Commission', and 'Utility'

Updated formatting and numbering structure to align definitions with a more consistent organizational pattern, removing redundant or duplicate entries from the House version

TECHNICAL

Changed document header from 'HOUSE OF REPRESENTATIVES' to 'SENATE FLOOR VERSION' and updated session information to reflect Senate amendments

House Committee Substitute for Senate Bill → Floor (House) · 4 edits

MODERATE

This bill version transitioned from a committee substitute to the House floor version, primarily updating formatting and page numbering while maintaining the same substantive content. The bill amends Oklahoma's Uniform Unclaimed Property Act to improve record-keeping requirements, clarify definitions, and establish procedures for handling unclaimed property claims. No substantive policy changes were made to the actual provisions during this version transition.

Scope change

No change in scope or applicability; this is a procedural version update from committee to floor version

TECHNICAL

Page headers and numbering were updated to reflect House floor version formatting

Sponsor names were expanded to include additional House sponsors (Hilbert, Moore, and West)

Page footers were changed from committee reference numbers to House floor version identifiers

POLICY

All substantive legislative text regarding unclaimed property definitions, procedures, and requirements remains identical to the committee substitute version

Proposed Policy Committee Substitute 1 → House Committee Substitute for Senate Bill · 5 edits

MODERATE

The House Committee Substitute amended the bill title and renumbered several statutory definitions to conform to the proposed policy committee substitute. The substantive policy content of the bill remains unchanged, with only formatting adjustments and renumbering of definition sections.

Scope change

No substantive change to the bill's scope or applicability; changes are primarily technical formatting and renumbering of statutory definitions.

TECHNICAL

Bill title changed from 'PROPOSED POLICY COMMITTEE SUBSTITUTE' to 'COMMITTEE SUBSTITUTE' to reflect House Committee amendments

Page numbering and request numbers updated from 13425 to 13627

Minor formatting adjustments to spacing and line breaks throughout the document

DEFINITION

Definition section renumbered to correct numbering sequence (e.g., 6.8, 7.9, 8.10, 9.11, 13.15, 14.16)

Added new definition for 'Museum' in the statutory definitions section

Proposed Committee Substitute (full committee) 1 → Proposed Policy Committee Substitute 1 · 5 edits

MODERATE

The bill was revised from a 'Proposed Oversight Committee Substitute' to a 'Proposed Policy Committee Substitute,' indicating a shift in legislative review focus. Several definition changes were made to clarify terms like 'Financial organization' and 'Holder,' and a new definition for 'Intangible property' was added. These changes refine how unclaimed property is categorized and handled under Oklahoma law.

Scope change

The bill's scope was expanded to include additional types of financial organizations and clarified definitions for property holders and intangible assets, potentially broadening the range of entities subject to unclaimed property reporting requirements.

DEFINITION

Changed the bill title from 'Proposed Oversight Committee Substitute' to 'Proposed Policy Committee Substitute,' reflecting a shift in committee review focus.

Added a new definition for 'Intangible property' to include specific items like credit balances, customer overpayments, security deposits, and mineral lease payments.

Modified the definition of 'Financial organization' to include savings and loan associations, building and loan associations, and credit unions.

Updated the definition of 'Holder' to include trustees and persons indebted to another on an obligation.

TECHNICAL

Changed document reference numbers from 'Req. No. 13591' to 'Req. No. 13425' and updated the session date from 4/24/2025 to 4/7/2025.

Enrolled (final version) → Proposed Committee Substitute (full committee) 1 · 3 edits

MINOR

The bill text was replaced with a committee substitute version that retains the original substantive provisions but includes formatting changes, updated headers, and minor text adjustments. The core policy content regarding unclaimed property definitions, State Treasurer requirements, and claim procedures remains substantially unchanged.

TECHNICAL

Document headers and metadata were updated to reflect committee amendment status and include committee member names.

Page numbering and formatting were adjusted to conform to committee substitute standards.

Minor text formatting changes were made throughout the definitions section while preserving the original legal language.

Engrossed → Enrolled (final version) · 3 edits · May 21, 2025

MINOR

The bill transitioned from an Engrossed draft to its final Enrolled version, incorporating additional sponsors and updating the official title and subject matter description. The substantive definitions and statutory language remain identical between versions, with no changes to policy, scope, or applicability.

TECHNICAL

Added additional House sponsors (Hilbert, Moore, and West) to the bill authorship line.

Updated the bill title and subject line to reflect the final enrolled version with a more detailed description of the bill's contents.

Changed the header from 'ENGROSSED SENATE' to 'ENROLLED SENATE' to indicate the bill has passed both chambers and is ready for governor's signature.

Amended And Engrossed → Engrossed · 5 edits · May 20, 2025

MODERATE

The bill was renumbered from a House amendment to a Senate bill, and the substantive text was reformatted with new section numbering and minor reorganization of definitions. The core policy content regarding the Uniform Unclaimed Property Act appears unchanged, with the same definitions and requirements preserved.

Scope change

No substantive change to the bill's scope or applicability; primarily a technical reformatting of the document structure and section numbering.

TECHNICAL

Document title changed from 'ENGROSSED HOUSE AMENDMENT' to 'ENGROSSED SENATE BILL'

Section numbering was reorganized and renumbered throughout the document

Page headers and footers were reformatted with new page numbering

DEFINITION

All substantive definitions (Apparent owner, Attorney General, Banking organization, etc.) remain identical

REQUIREMENT

All substantive requirements and provisions remain identical

Introduced → Amended And Engrossed · 6 edits · May 20, 2025

MODERATE

The bill was substantially rewritten and renumbered during amendment, updating the statutory references from Section 661 to Section 668 and adding new requirements for the State Treasurer to record additional information before deposits and prepare findings for hearings. The amendment also expanded the definition of 'Claimant's representative' to include power of attorney holders and added new coauthors to the bill.

Scope change

The bill's scope was expanded to include additional State Treasurer duties regarding record-keeping and hearing preparation, and the statutory sections referenced were updated.

DEFINITION

Expanded definition of 'Claimant's representative' to explicitly include power of attorney holders

REQUIREMENT

Added requirement for State Treasurer to record additional information before making deposits to the Unclaimed Property Fund

Added requirement for State Treasurer to prepare findings and decisions for hearings on unclaimed property claims

TECHNICAL

Updated statutory references from Section 661 to Section 668 and renumbered all sections

Added new coauthors to the bill: Hilbert, Moore, and West (Josh)

ENFORCEMENT

Added provisions establishing procedures when claims are approved or denied

Property; modifying provisions of the Uniform Unclaimed Property Act. Effective date.

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