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Thursday, October 17, 2019

Oklahoma Supreme Court upholds state's Uniform Unclaimed Property Act

By Mark Iandolo | Apr 14, 2016

OKLAHOMA CITY (Legal Newsline) - Oklahoma Attorney General Scott Pruitt says the state Supreme Court has ruled in favor of the Uniform Unclaimed Property Act in a case challenging the act’s constitutionality.

“The Oklahoma Supreme Court ruled, as my office argued, that the suit challenging the constitutionality of the Unclaimed Property Fund was without merit,” Pruitt said.

“After defending the fund at multiple levels of state court, we are thankful that Oklahoma and state Treasurer Ken Miller will be able to continue to oversee the fund, which provides citizens with an efficient and convenient source for reclaiming their property while also providing money to the general revenue fund for vital programs supporting education, infrastructure and other state priorities.”

An Oklahoma citizen had filed the lawsuit against Miller. The citizen hired an attorney well known for challenging state laws.

“The unanimous ruling from the state Supreme Court was expected but still important in that it affirms the unclaimed property program serves a legitimate state interest, is a vital consumer protection service, prevents holders of unclaimed property from reaping undo financial windfalls and allows the funds to be used for a public purpose,” Miller said.

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