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§60-651.2. Sum payable on check, certified check, cashier's check, draft, or similar instrument - Presumption of abandonment - Burden of proof - Affirmative defenses.

60 OK Stat § 60-651.2 (2019) (N/A)
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A. Any sum payable on a check, certified check, cashier's check, draft, or similar instrument, except those subject to Section 651.1 of this title, on which a banking or financial organization is directly liable, which has been outstanding for more than five (5) years after it was payable or after its issuance if payable on demand, is presumed abandoned, unless the owner, within five (5) years, has communicated in writing with the banking or financial organization concerning it or otherwise indicated an interest as evidenced by a memorandum or other record, on file, prepared by an employee thereof.

B. A record of the issuance of a check, draft, or similar instrument shall be prima facie evidence of an obligation.

C. The burden of proof upon the State Treasurer in claiming property from a holder, who is also the issuer, shall be satisfied by demonstrating the issuance of the instrument and the passage of the requisite period of abandonment as provided in subsection A of this section.

D. The holder may assert affirmative defenses of:

1. Payment;

2. Satisfaction;

3. Discharge; and

4. Want of consideration.

Added by Laws 1991, c. 331, § 3, eff. Sept. 1, 1991. Amended by Laws 2010, c. 241, § 1, emerg. eff. May 10, 2010.

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