Okla. Admin. Code § 735:80-7-7

Current through Vol. 42, No. 6, December 2, 2024

Section 735:80-7-7 - Claims paid in error

If OST pays a claimant in error OST may:

(1) In the case of ownership: When a person with the same name can present evidence that payment was made in error, OST will suspend payment to the second claimant until the conflicting claims are resolved. OST will notify the first payee that:

(A) Another claimant has filed for the property and is the valid owner;

(B) He is requested to refund the monies paid;

(C) He has the right to present evidence to OST if he has a prior claim and a more fully documented proof of ownership;

(D) OST may require a hearing before a hearing examiner designated by the State Treasurer to determine or verify ownership;

(E) OST may pursue collection through appropriate court action.

(F) If it is determined that the second claimant has a prior claim, OST will distribute the monies to the second claimant.

(2) In the case of error in reporting by a holder:

(A) If a holder's report or ownership verification is found to be in error after OST has paid the listed owner, the holder shall be required to reimburse OST for any funds paid.

(B) If the request for reimbursement is denied OST may pursue collection through court action.

Okla. Admin. Code § 735:80-7-7

Transferred from 710:80-7-7 at 60 O.S., § 688, eff 7-1-99 (see Editor's Notice published at 17 Ok Reg 217); Amended at 17 Ok Reg 2167, eff 6-12-00