Oklahoma § 60-657.1 Credit memo issued in ordinary course of business.

Oklahoma Statutes

§ 60-657.1 — Credit memo issued in ordinary course of business.

Oklahoma § 60-657.1

Title 60Property

This text of Oklahoma § 60-657.1 (Credit memo issued in ordinary course of business.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 60, § 60-657.1 (2026).

Text

(a)A credit memo issued in the ordinary course of an issuer's business which has a value of more than Fifty Dollars ($50.00) and remains unclaimed by the owner for more than five (5) years after becoming payable or distributable is presumed abandoned.

(b)With regard to a credit memo, the amount presumed abandoned is the amount credited to the recipient of the memo. In applying the Fifty Dollar ($50.00) limitation, individual credit memos to the same owner shall not be aggregated.

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(a) A credit memo issued in the ordinary course of an issuer's business which has a value of more than Fifty Dollars ($50.00) and remains unclaimed by the owner for more than five (5) years after becoming payable or distributable is presumed abandoned. (b) With regard to a credit memo, the amount presumed abandoned is the amount credited to the recipient of the memo. In applying the Fifty Dollar ($50.00) limitation, individual credit memos to the same owner shall not be aggregated.