Unclaimed Property Statute Not a Ponzi Scheme, Oklahoma Supreme Court Holds


Diann Smith said an Oklahoma Supreme Court ruling to uphold the state’s unclaimed property act was not « terribly surprising given that the plaintiff received his property and there was not a change in the value of his property between when it was deemed abandoned and its return to him, » but added that the Court’s rejection of a state obligation to pay owners of abandoned property “is certainly a surprise to owners whose property is taken into ‘custody’ by the state.”