(2) The interest earned on the dividend accounts while they remain in the possession of the director shall be paid to the State Treasurer to be credited to the Consumer and Business Services Fund and the owner, the heirs or personal representative of the owner have no claim to the interest. [Amended by 1959 c.138 §4; 1973 c.797 §288; 1993 c.694 §37]
Note: The amendments to 711.590 by section 74, chapter 678, Oregon Laws 2019, become operative July 1, 2021. See section 85, chapter 678, Oregon Laws 2019. The text that is operative on and after July 1, 2021, is set forth for the user’s convenience. (1) Two years after the date of the final order closing the liquidation of an institution, the Director of the Department of Consumer and Business Services may withdraw any unclaimed deposits or balances remaining to the credit of dividend accounts, representing the aggregate of undelivered checks or unpaid dividend funds in the possession of the Department of Consumer and Business Services, and report and pay the funds to the State Treasurer as unclaimed property for deposit in the Unclaimed Property Revolving Fund under ORS 98.352.
(2) The interest earned on the dividend accounts while they remain in the possession of the director shall be paid to the State Treasurer to be credited to the Consumer and Business Services Fund and no person entitled to the accounts has any claim to the interest.
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