Oregon Dept. of State Lands
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News Release
Public Comment Sought on Rules Needed to Transfer Unclaimed Property Program to State Treasury - 04/30/21

Public hearing to be held virtually on May 24, public comment period open until May 28

SALEM, Ore. – The Oregon Department of State Lands is seeking comment on rule changes needed to implement Senate Bill 454 (2019), which transfers oversight of Oregon’s Unclaimed Property and Estates Administration programs to Oregon State Treasury.

The rule changes involve the repeal of rules that establish DSL’s oversight of the Unclaimed Property and Estates programs. Concurrently, OST would adopt similar rules allowing the agency to administer the programs.

The Unclaimed Property Program holds abandoned funds, such as uncashed checks, forgotten bank accounts and refunds, on behalf of Oregonians. The Estates Administration program administers the estates of people who die without wills or known heirs. Funds from both programs are held in the Common School Fund, where they earn interest for K-12 public education until claimed.

Following the rules repeal by DSL and adoption by OST, program responsibilities would transfer to OST on July 1, 2021. Staff will continue to serve Oregonians throughout this process, with minimal anticipated impacts on program operations.

Opportunities for Virtual and Written Public Comment

A public hearing on the proposed rule repeal and adoption will be held May 24 at 10 a.m. via Cisco Webex. The meeting will be jointly administered by DSL and OST. Meeting links and call-in information are on the DSL website. Those interested in testifying at the public hearing should register using the link on the website by 5:00 p.m. on May 20.

Comments may also be submitted by online form, emailed to ules@dsl.state.or.us">rules@dsl.state.or.us, or mailed to DSL at 775 Summer Street NE, Suite 100, Salem, OR 97301.

The comment deadline is Friday, May 28 at 5 p.m.

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